Gyeongju City Opens Applications for 'Support Fund' for Small Business Owners Affected by COVID-19

Applicable to 6 Business Types with Gathering Bans and 13 Business Types with Operation Restrictions

A panoramic view of Gyeongju City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] On the 12th, Gyeongju City announced that it is accepting applications for the 'Small Business Support Fund' organized by the Ministry of SMEs and Startups, targeting small business owners affected by COVID-19.

The target for this fund loan project is small business owners who completed their business registration before November 30 of last year. The support amounts are 3 million KRW for those affected by business suspension, 2 million KRW for those affected by business restrictions, and 1 million KRW for small business owners with annual sales of 400 million KRW or less whose sales decreased compared to 2019.

Applications for the fund can be made on the designated website. If applied for in the morning, the support fund can be received in the afternoon of the same day. Also, if applied for by midnight, the fund can be received by the next morning.

The businesses subject to business suspension in the Gyeongju area include 884 establishments across 6 industries such as entertainment bars and karaoke bars. The business restriction industries include 13 sectors such as PC rooms and beauty salons.

Yebyeongwon, head of the Economic Policy Division, said, "We will continuously promote so that all small business owners in the region affected by COVID-19 can benefit from government policies."