Online Applications for This Year's 5 Trillion KRW SME Policy Funds Open from the 3rd

Online Application on Jungjingong Homepage
Sequential Launch by Region from the 3rd

Small and Medium Business Corporation

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 2nd that it will begin accepting online consultation applications for the 2023 SME policy funds starting from the 3rd.

To ensure smooth operation of the online application system, the schedule is divided by region. On the 3rd, consultations will begin at 10 a.m. for Seoul, and at 2 p.m. for other regions (excluding Incheon and Busan). On the 4th, applications open at 10 a.m. for Gyeonggi Province, and on the 5th and 6th, consultations will start sequentially for Incheon and Busan.

This year’s key support directions for SME policy funds are ▲ proactive response to overcome complex crises ▲ strengthening competitiveness in future new industries such as the top 10 super-gap sectors ▲ enhancing capabilities to respond to industrial transformation acceleration including digital transition and ESG management.

The policy fund support scale is 5 trillion won, with plans to allocate more than 60% of the total budget as working capital to stabilize SME management and provide emergency liquidity. Additionally, to alleviate the burden of high interest rates, 797 billion won will be supplied through a secondary interest subsidy project utilizing private finance, and private-led innovation growth will be promoted through improvements in scale-up finance systems and expansion of private matching loans.

Furthermore, in line with changes toward non-face-to-face and digitalization, the policy fund application and loan processes will be reorganized to establish a demand-centered support system. Kim Hak-do, Chairman of SBC, stated, "With the ongoing triple crisis and increasing domestic and international uncertainties, the business environment is becoming increasingly difficult day by day. SBC will prepare a safety net to withstand the complex crisis situation through fairer and faster policy fund support, and nurture small and medium venture businesses as key players in private-led innovation growth."