'Closed Store Rechallenge Incentive'... Alleviating the Burden of Submitting Supporting Documents

Ministry of SMEs and Startups

Source=Ministry of SMEs and Startups

[Asia Economy Reporter Kim Daeseop] The Ministry of SMEs and Startups announced on the 27th that it will eliminate the burden of submitting supporting documents when applying for the 'Closed Store Rechallenge Incentive'.

From today, it is possible to apply online for the Closed Store Rechallenge Incentive without submitting four types of documents such as the Small Business Confirmation Certificate and the Certificate of Closure. Previously, small business owners who reported closure after September 25 of this year had to upload these four documents, including the Small Business Confirmation Certificate, to the online platform in order to apply.

Recently, through cooperation with the National Tax Service, the Ministry of SMEs and Startups has been able to continuously secure data on closed small businesses until the end of the year. Accordingly, for small business owners who reported closure after September 25, a rapid procedure of 'pre-selection of closed small businesses → sending application guidance text messages → document-free application by applicants → payment the next day' can be continued.

Also, small business owners who applied before receiving the guidance text message had the inconvenience of having to prepare common supporting documents themselves. In response, the Small Enterprise and Market Service applied to the Ministry of the Interior and Safety for authorization to use the 'Administrative Information Joint Use Network' related to the execution of the Closed Store Rechallenge Incentive.

Final approval was obtained on the 21st, and access became available from the 27th. Therefore, applicants after the 27th of this month can apply for the Closed Store Rechallenge Incentive by simply filling out the online application form and consenting to the provision of personal information without submitting supporting documents.

In addition, the small business closure and re-start support project can also be applied for collectively on the dedicated platform for the Rechallenge Incentive. Recipients of the Rechallenge Incentive do not need to submit separate closure confirmation documents.

Park Chi-hyung, Director of Small Business Policy at the Ministry of SMEs and Startups, said, "There have been field criticisms that the procedure for the Closed Store Rechallenge Incentive was somewhat complicated, but thanks to the cooperation of the National Tax Service and the Ministry of the Interior and Safety, we have been able to almost eliminate the inconvenience related to document submission by small business owners. We will continue to monitor the field to ensure there are no difficulties in the application process."