'Second Round of Quarantine Support Fund' Applications from Even-Numbered Businesses on Second Day... 3.74 Trillion Won Paid on First Day

On the 27th, when the payment of quarantine support funds began for small business owners affected by the government's COVID-19 quarantine measures, small business owners were waiting for consultations at the Small Enterprise and Market Service Seoul Jungbu Center in Jongno-gu, Seoul. The payment targets are small business owners and small enterprises that opened by December 15 of this year and whose sales have decreased or are expected to decrease. Each business receives 1 million won in support. Applications for the support fund can be made on the dedicated website '소상공인방역지원금.kr'. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Donghyun Choi] The second round of quarantine support funds for small business owners affected by COVID-19 prevention measures was disbursed on the first day in the amount of 3.74 trillion KRW. On the second day, the 24th, applications and payments for the support fund will be processed for 1.52 million business owners whose business registration numbers end with an even digit.

The Ministry of SMEs and Startups announced on the 24th that on the first day of applications and payments for the second round of quarantine support funds, payments were completed for 1.246 million out of 1.52 million eligible small businesses and small business owners with odd-numbered business registration numbers, accounting for 82%. A total of 3.7391 trillion KRW was paid, with 3 million KRW per business.

The Ministry is operating an 'odd-even system' based on the last digit of the business registration number during the first two days of applications on the 23rd and 24th. On this day, 1.52 million people with even numbers are eligible to apply. As of 9 a.m., 435,000 (28.6%) had applied, bringing the cumulative total to 1.686 million applications so far.

The principle for the second round of quarantine support fund payments is 'payment on the day of application.' If applicants apply by 6 p.m., the support funds will be deposited into the requested account on the same day. For multiple businesses operated by one person or businesses run by co-representatives, application guidance will be provided sequentially starting from the 25th.