Dongdaemun-gu Provides 500,000 Won Support to Small Business Owners Closing Due to Gathering Bans and Business Restrictions

Small Business Owners Who Closed After Strengthened Social Distancing (March 22, 2020)... 500,000 KRW Cash Support Per Small Business Owner... Online and In-Person Applications from the 17th, Payment Within 2 Weeks

[Asia Economy Reporter Park Jong-il] Dongdaemun-gu (Mayor Yoo Deok-yeol) will provide 500,000 KRW in cash support to small business owners who have closed their businesses among those who were subject to business suspension or operation restrictions to prevent the spread of COVID-19.

This decision was made to comfort small business owners who have experienced management difficulties and closed their businesses due to the prolonged COVID-19 pandemic and to encourage their re-challenge.

The support targets small business owners with annual sales under 5 billion KRW and fewer than 5 regular employees, who closed their businesses in Dongdaemun-gu in sectors subject to business suspension or operation restrictions from March 22, 2020 (the date of strengthened social distancing implementation) to the announcement date of support (May 14, 2021).

Applications can be submitted online or in person from the 17th of this month until funds are exhausted. Online applications can be made through the Dongdaemun-gu Office website → Life Information → COVID-19 → Support for Closed Small Business Owners, and in-person applications are accepted at the relevant departments by industry at Dongdaemun-gu Office.

Required documents for application include a certificate of business closure and a small business owner confirmation certificate. For detailed information, please refer to the public notice on the Dongdaemun-gu Office website.

After review, support funds will be provided within two weeks from the application date to eligible small business owners.

Yoo Deok-yeol, Mayor of Dongdaemun-gu, stated, “I hope this support will offer some comfort to small business owners who have experienced sales decline and business closure due to the prolonged spread of COVID-19 and help them take a new leap forward.”