Gyeongbuk Goryeong-gun Provides 8 Billion KRW in On-Demand Operating Funds for SMEs

Interest Rate 3%, Interest Supported for 1 Year

Goryeong County Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] Goryeong-gun, Gyeongbuk Province, will provide working capital loans totaling 8 billion KRW to alleviate financial difficulties of small and medium-sized enterprises (SMEs) and stabilize business management.

The SME working capital loan will cover 3% of the interest rate on new bank loans for one year, and applications will be accepted from the 11th to the 15th of next month (early closure if funds are exhausted).

Eligible applicants include manufacturing, construction, electrical contracting, information and communication contracting, fire protection facilities, transportation businesses (excluding freight forwarding, individual cargo transportation, travel agency, warehousing, and transportation-related services), trading, tourism accommodation facilities (excluding inns), waste collection, transportation and disposal, automobile repair, and scientific technology service companies with headquarters, main offices, or business sites located in Goryeong-gun.

General companies can receive support up to 300 million KRW depending on sales size, while preferred companies such as women-owned businesses, disabled-owned businesses, and companies located in agricultural and industrial complexes can receive up to 500 million KRW.

County Governor Kwak Yong-hwan said, “We hope that providing working capital to SMEs facing financial difficulties due to prolonged COVID-19 impacts and interest rate hikes will help improve productivity and stabilize management.”