Jongno-gu Completes Payment of Approximately 26.46 Billion Won in Survival Funds for Self-Employed

Eligible businesses are those registered in Jongno-gu before September 1 last year with annual sales under 200 million KRW... 700,000 KRW paid twice in cash

[Asia Economy Reporter Park Jong-il] Jongno-gu (District Mayor Kim Young-jong) has completed the payment of approximately 26.46 billion KRW in emergency survival funds for self-employed individuals, urgently allocated by the Seoul Metropolitan Government this year.

This survival fund payment, implemented for the first time nationwide, was carried out to actively support small business owners facing closure risks due to COVID-19 and to revitalize the local economy.

The program provides 700,000 KRW twice, totaling 1.4 million KRW in cash, to businesses registered in Jongno-gu before September 1 of last year with annual sales under 200 million KRW.

To facilitate this, on May 13, Jongno-gu signed the ‘Seoul Metropolitan Government Self-Employed Survival Fund Support Business Agreement’ with the Seoul Metropolitan Government, National Health Insurance Service, Seoul Regional Tax Office, KT, Shinhan Card, BC Card, and Kookmin Card, and accepted online applications from May 25 to June 30.

Additionally, for self-employed individuals unable to use smartphones or PCs, offline applications were accepted from June 15 to June 30 at local Woori Bank branches and temporary reception desks at the district office, enhancing convenience.

The survival fund is disbursed to eligible businesses after a comprehensive review of applicants’ information from the National Tax Service, National Health Insurance Service, Credit Guarantee Foundation, and card companies.

A total of 21,328 self-employed individuals in Jongno-gu applied, and 18,897 were approved to receive the survival funds.

Kim Young-jong, Mayor of Jongno-gu, stated, “We aim to discover various support measures that the district can provide for local self-employed and small business owners struggling due to COVID-19,” adding, “Ahead of the holiday season, we will focus on strengthening quarantine measures in traditional markets and shopping districts to ensure safe shopping in preparation for Chuseok.”