Gyeongsan City Provides 1 to 1.5 Million KRW to Businesses Under Gathering Bans and Operation Restrictions... Separate from Government's 3rd Support Fund

150,000 KRW for businesses under assembly ban, 100,000 KRW for businesses with operational restrictions

Gyeongsan City Hall

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Jae-ho] Gyeongsan City in Gyeongbuk announced on the 26th that it has allocated 6 billion KRW for the 'Gyeongsan-type Small Business Emergency Disaster Relief Fund' and decided to provide emergency payments.

This is separate from the government's third disaster relief fund and aims to support compensation for business losses to small business owners suffering from administrative orders of gathering bans and business restrictions due to the strengthening of social distancing to level 2.

This disaster relief fund will be paid to small business owners operating before the 27th as follows: 1.5 million KRW for gathering banned industries (5 types of entertainment establishments, Hold'em pubs) and 1 million KRW for business restricted industries (restaurants, cafes, indoor sports facilities, karaoke rooms, indoor standing performance halls, direct sales promotion centers, movie theaters, academies, and private institutes).

However, unregistered businesses without business registration, businesses that are currently closed or suspended as of the application date, and businesses violating administrative orders are excluded.

Applications can be made both online and in person. The application period is from the 29th to February 26th (online applications start from February 1st). The city focused on minimizing applicants' inconvenience by simplifying the application procedures and required documents with the goal of providing payments before the Lunar New Year holiday.

In-person applications are accepted at the administrative welfare centers in the town, township, and neighborhood where the business is located. Online applications are processed through the 'Gyeongsan-type Small Business Emergency Disaster Relief Fund Application' site on the Gyeongsan City Hall website.

Mayor Choi Young-jo of Gyeongsan said, "The emergency disaster relief fund was prepared from contingency funds and partial savings from officials' operating expenses. We will continue to strive to devise support measures to alleviate the difficulties of small business owners who sustain the local economy, even if only a little."