Dongdaemun-gu Operates On-site Registration Center for Small Business Loss Compensation

Dongdaemun-gu to Operate On-site Loss Compensation Center for Small Business Owners on B2 Floor of District Office from 4th & Implement Two-day System by Business Registration Number Ending Digit from 4th to 7th to Prevent Congestion & Online Application Also Available

[Asia Economy Reporter Jongil Park] Dongdaemun-gu (Mayor Ilhyung Lee) will operate the 2022 2nd Quarter Small Business Loss Compensation On-site Reception Center on the basement level 2 of the district office starting October 4th for small business owners who have limited online access or need to submit detailed additional supporting documents.

From the 4th to the 7th, an odd-even system based on the last digit of the business registration number will be implemented to prevent congestion caused by a surge in civil complaints. From the 11th, applications can be submitted regardless of the business registration number.

When visiting the site for submission, common required documents include a copy of the business registration certificate or a business registration confirmation (issued within the last month), the representative’s or visitor’s ID, various consent forms, and additional documents if applicable.

The support target for the 2022 2nd Quarter Small Business Loss Compensation includes small enterprises under the Framework Act on Small and Medium Enterprises and medium enterprises with annual sales of 3 billion KRW or less that suffered significant business losses due to operating hour restrictions and facility occupancy limits from April 1 to April 17, 2022.

The compensation amount is determined by applying the quarantine measure implementation period and a correction rate of 100% to the average daily loss in the same month of 2021 compared to before the COVID-19 outbreak in 2019. Deductions for advance payments will also be reflected. The quarterly compensation cap is up to 100 million KRW, with a minimum of 1 million KRW. However, businesses that violated quarantine measures may receive partial or no payment, or may be subject to recovery.

For inquiries related to loss compensation, contact the Loss Compensation Call Center or the Dongdaemun-gu Small Business Loss Compensation On-site Reception Center by phone.

Online applications can also be made quickly through the Loss Compensation website, with a five-day rotation system in place until October 3rd. Applications can be submitted on the 29th (digits 4, 9), 30th (0, 5), 1st (1, 6), 2nd (2, 7), and 3rd (3, 8) based on the last digit of the business registration number, and from the 4th, applications can be submitted regardless of the registration number.

Park Sangjin, Director of the Economic Promotion Division, stated, “We have assigned dedicated personnel to operate the on-site reception center so that small business owners who have difficulty using the internet can easily apply for loss compensation,” and added, “We hope that all eligible small business owners apply for the compensation to help overcome the difficult times caused by COVID-19.”