Deputy Minister Ando-gul Oversees Supplementary Budget Situation Personally... "57% of Disaster Relief Funds for Small Business Owners Executed"

Visit to 'Mapo-gu Dream Square' on the 8th
"From Livelihood Self-Employment to Strengthening Technical Skills and Sales Power"

[Asia Economy Reporter Jang Sehee] Ando Geol, Vice Minister of Strategy and Finance, visited the site on the 8th to inspect the execution status of the supplementary budget (추경).

On the morning of the same day, Vice Minister Ando visited Dream Square in Mapo-gu, Seoul, and stated, "It is understood that more than 57% (about 3.9 trillion won) of the Support Plus funds had been executed as of the 7th."

Vice Minister Ando said, "We will expand financial support and investment to ensure that small business owners can secure competitiveness to endure and overcome any crisis, including COVID-19."

He announced plans to design and reinforce three recovery programs to help small business owners restart: business liquidation, prepared re-entrepreneurship, and cultivation of new vocational skills. Additionally, he stated that an ecosystem will be created to transition from a livelihood-type self-employed structure to a self-sustaining structure equipped with technology and business capabilities.

Vice Minister Ando emphasized, "Within every crisis, new opportunities inevitably emerge," adding, "We must use this crisis as an opportunity to improve the constitution of small business owners and the self-employed and to elevate their competitiveness to the next level."

He continued, "We must develop our self-employment sector into a source of high value-added, life-close products and services, as well as a reservoir for creating quality jobs."