Small Business Owners' New Hope Fund Application Deadline Extended by One Week Until the 13th Today

Appeals Accepted for 3 Weeks from 9th to 30th
2.4594 Trillion KRW Supported for 2.24 Million People from September 24 to November 8

[Asia Economy Reporter Kim Jong-hwa] The Ministry of SMEs and Startups announced on the 9th that it will extend the application deadline by one week, from the original deadline of the 6th to the 13th, to allow more small business owners to receive the New Hope Fund support.

Among the quick payment recipients who were pre-selected using administrative information and notified of their eligibility via text message, mail, or phone, small business owners who have not yet applied for the New Hope Fund can apply online by Friday the 13th and receive the support funds the next day.

Small business owners who were not included in the quick payment recipients due to difficulties in pre-selection using only administrative information can apply by attaching the required supporting documents on the New Hope Fund dedicated website by the 13th, and if they meet the requirements, they can receive the New Hope Fund.

Online application is the principle for the New Hope Fund, and if online use is difficult, application guidance can be received at each local government's 'Objection Application Reception Center.'

Separately, from the 9th to Monday the 30th, the Ministry of SMEs and Startups will accept objection applications at the New Hope Fund dedicated website or each local government's reception center. Objection applications are for small business owners who were informed that they are not eligible for the New Hope Fund or those in special damage industries eligible for 1.5 million KRW or 2 million KRW but only received 1 million KRW.

In particular, if you were notified by text message or other means that you are not eligible, you must submit an objection application within 7 days from the date of notification.

Since the first application on September 24, the New Hope Fund has been paid to 2.24 million small business owners, totaling 2.4594 trillion KRW as of the 8th.

Lee Eun-cheong, Director of the Small Business Policy Division at the Ministry of SMEs and Startups, said, "We have been informing and encouraging those who have not yet applied among the quick payment recipients through various methods such as text messages, mail, and phone calls," adding, "To provide an additional opportunity to receive support, the application deadline has been extended by one week, so please make sure to apply by the 13th to receive the New Hope Fund."