Gwangsan-gu, Gwangju Selected as Best in Small Business Financial Support Project by Ministry of the Interior and Safety

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Gwangsan-gu, Gwangju Metropolitan City announced on the 24th that it was selected as the best in the 2022 Low-Credit Small Business Owner and Self-Employed Financial Support Project contest hosted by the Ministry of the Interior and Safety, securing 100 million KRW in national funds.

This contest project was promoted by the Ministry of the Interior and Safety to expand Gwangsan-gu's economic vaccine project, the 1% Hope Loan, nationwide.

The main point is to provide emergency funds at low interest rates to low-credit small business owners who are struggling due to the worsening economic situation caused by COVID-19, among other factors.

The Ministry of the Interior and Safety started this project on a pilot basis last year through the Resident Life Innovation Case Expansion Contest, and this year selected a total of 22 local governments through a contest, providing 2 billion KRW in national funds.

Gwangsan-gu, recognized as a leading institution that spread the 1% Hope Loan to other local governments, received a financial incentive of 400 million KRW from the Ministry of the Interior and Safety last year and achieved the great success of being selected as the best local government again this year.

Following the contest selection, the district plans to promote a special guarantee loan support project for small business owners in cooperation with financial institutions and the Gwangju Credit Guarantee Foundation starting next month.

In particular, it plans to expand the scale of loan support so that the benefits of securing national funds can be passed on to local small business owners.

A Gwangsan-gu official said, “With this contest selection, we will be able to provide financial support benefits to more companies and small business owners in the region,” adding, “We will continue various support projects to help economic agents affected by the COVID-19 economic crisis recover.”