Hamyang-gun, Application and Receipt of Small Business Loss Compensation for Q1 This Year

Customized Compensation for Small Business Owners under Sales Restriction Measures, Congestion Prevention with 5-Day Rotation and Odd-Even System

Hamyang County Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hamyang-gun, Gyeongnam announced that it will accept online applications for the ‘1st Quarter Small Business Loss Compensation’ starting from the 30th, targeting small business owners who suffered losses due to government quarantine measures.

This loss compensation applies to small business owners and small enterprises that complied with operating hour restrictions or personnel limits from January 1 to March 31 this year, as well as medium-sized enterprises with annual sales under 3 billion KRW that experienced a decrease in sales.

The compensation amount was expanded by raising the adjustment rate from the previous 90% to 100%, and the quarterly minimum amount from 500,000 KRW to 1,000,000 KRW, according to the decision of the 20th Loss Compensation Deliberation Committee on June 28.

Businesses eligible for rapid compensation are pre-selected for compensation based on administrative data from the National Tax Service and local governments, and text messages are sent to each business. Applications can be submitted online from 9 a.m. on June 30 through the website (소상공인손실보상.kr). However, to prevent congestion, a five-day rotation system based on the last digit of the business registration number will be operated for the first 10 days starting from the 30th.

Small business owners who find online application difficult can apply in person starting from July 11. For convenience, the in-person application will be conducted with an odd-even system at the Job and Economy Division of Hamyang-gun Office from the 11th to the 22nd.

Businesses not included in the rapid compensation target or those who do not agree with the rapid compensation amount can apply online from July 5 and offline from July 11.

In addition, objections to the results of the verification compensation and verification requests can be filed within 30 days from the date of notification of the results.

A county official said, “We hope that all small enterprises and small business owners eligible for the government-supported small business loss compensation will apply without exception,” and added, “We will closely cooperate with the Ministry of SMEs and Startups and Gyeongnam Province to ensure the smooth progress of the support fund application.”