Gwangyang-si Expands Support Project for Small Business Facility Improvements

Supplementary Budget Allocated for 25 Sites, Total 75 Sites Supported through 1st and 2nd Application Rounds

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Gwangyang City announced on the 1st that it will issue the 2nd public notice for the ‘Small Business Facility Improvement Support Project’ to improve the environment of small business establishments in the region and strengthen their competitiveness, and will accept applications from June 5 to 19.

In the first public notice of the facility improvement support project, 50 establishments were selected, and an additional 25 establishments will be accepted by preparing a supplementary budget to expand support for local small businesses affected by COVID-19.

This second round will select about 25 additional small business establishments and provide up to 5 million KRW per establishment for signboard replacement, interior improvement, replacement of outdated equipment, and more.

Eligible applicants are small business owners who have had an address and business site in Gwangyang City for more than six months as of the application date. Similar or duplicate beneficiaries, franchise direct stores or branches operated by large corporations, and non-store businesses are excluded from support.

Those wishing to participate can apply by email (bakjong@korea.kr) or visit the City Hall Regional Economy Division, and detailed information can be found on the city’s website announcement.

Lee Jae-yoon, head of the Regional Economy Division, said, “Along with the small business facility improvement support project, we have issued and paid 108.8 billion KRW through government emergency disaster relief funds, Gwangyang City emergency disaster living expenses, small business public utility fees, emergency living expenses for vulnerable groups, and Gwangyang Love Gift Certificates cards and card points for farmers and fishermen’s public interest allowances, which greatly helps increase small business sales and revitalize the local economy.”

Meanwhile, Gwangyang City plans to issue recommendation letters to 960 establishments for the small business loan interest support project to assist local small businesses facing difficulties such as decreased customer visits, reduced sales, and low credit due to COVID-19, and will support second compensation and guarantee fees once the loans are executed.