Starting Today, Quarantine Support Funds Distributed... Targeting 700,000 Small Business Owners with 'Operating Hours Restrictions'

Government to Provide 1 Million KRW Support Fund to 3.2 Million Small Business Owners with Decreased Sales
(Seoul=Yonhap News) Reporter Ryu Young-seok = On the afternoon of the 17th, a self-employed person is having a meal at a restaurant in Seoul, as the government announced it will provide a quarantine support fund worth 1 million KRW to 3.2 million small business owners whose sales have decreased due to special COVID-19 quarantine measures. 2021.12.17
ondol@yna.co.kr
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[Asia Economy Reporter Junhyung Lee] Starting from the 27th, quarantine support funds will be provided to 700,000 small business owners whose operating hours have been restricted due to the government's strengthened quarantine measures.

The Ministry of SMEs and Startups announced that from 9 a.m. on the same day, it will send text messages guiding small business owners and small enterprises affected by the operating hour restrictions on how to apply for the small business quarantine support funds.

On this day, the Ministry will notify approximately 350,000 businesses with odd-numbered business registration numbers that have been subject to operating hour restrictions about the application for the support funds. On the 28th, about 351,000 businesses with even-numbered business registration numbers will receive guidance via text message.

Small business owners and small enterprises who receive the guidance text can apply online for the quarantine support funds from 9 a.m. at '소상공인방역지원금.kr'. They must prepare a mobile phone registered in their name or a joint certificate for identity verification. For the first two days of the application period, an odd-even system will be in place, allowing applications on the designated dates based on the last digit of the business registration number. From the 29th onward, applications can be submitted regardless of odd or even numbers.

To apply, applicants only need to enter their business registration number and transfer account information and complete identity verification. There is no need to upload any additional documents.

If the application is completed by 6 p.m., the support funds will be deposited into the requested account on the same day. To expedite the payment of the quarantine support funds, the Ministry has increased the number of daily transfers from 4 to 5, compared to the Hope Recovery Fund disbursement.

For those who have been subject to operating hour restrictions since the 18th of this month but have not received a guidance text by the 28th, separate guidance will be provided next month, followed by the payment of the support funds. If an administrative order compliance certificate specifying the facility type is issued by the relevant local government, the business will be included in the payment target next month.

Detailed eligibility criteria and application procedures can be confirmed through the small business quarantine support fund announcement posted on the Ministry of SMEs and Startups website.