Daejeon City Opens '3rd Application' for Small Business Owners Missing Daily Recovery Funds

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City announced on the 3rd that it will accept applications for the third confirmation payment of the Small Business Daily Recovery Fund through online and in-person submission channels this month.

The third payment targets small business operators who were subject to gathering bans or business restriction administrative orders and did not receive the first or second support. Additionally, general businesses with confirmed sales declines are also included.

The support funds will be paid as daily recovery funds: 2 million KRW per business for those subject to gathering bans, 1 million KRW per business for those who complied with business (time) restrictions, and 500,000 KRW for small business operators in general industries with decreased sales.

Documents required to be submitted when applying for the third confirmation payment include business registration certificates for gathering ban and business restriction industries, a copy of the representative’s bankbook, and business operation permits.

For general industries with sales decline, the minimum operating period must be at least 60 days to compare sales decrease, and sales proof documents such as credit card sales data, cash receipt sales details, electronic tax invoice sales summary, or POS data must be submitted as evidence.

The criteria for judging sales decline by opening period for general industries with sales decrease is when annual, quarterly, or monthly sales after 2019 show a decrease in at least one period compared to previous periods.

To receive special support from the Daily Recovery Fund, the business must be located in Daejeon and the business registration opening date must be before September 30 of the previous year, among other requirements.

Also, businesses that were operating between July 7 and October 31 are eligible for support even if they have closed, and if operating multiple businesses, support funds can be received for each registered business location.

However, businesses that violated gathering bans or business restriction measures, unregistered businesses without business registration, businesses that applied fraudulently or by other dishonest means, non-profit enterprises, organizations, corporations, and unincorporated associations are excluded from support.

For more detailed information, refer to the announcement or contact the Daily Recovery Fund call center for guidance.

Meanwhile, since the 1st of last month, the city has completed payments totaling 10.184 billion KRW to 10,643 businesses through the first rapid payment and the second simplified payment of the Small Business Daily Recovery Fund.