Minimum support of 30 million KRW to maximum 200 million KRW per company until February 21
Targeting small and medium enterprises and small business owners with workplaces in Gwangjin-gu, fixed annual interest rate of 1.8%
Aiming to ease financial burdens, stabilize management, and revitalize the local economy
[Asia Economy Reporter Park Jong-il] Gwangjin-gu (Mayor Kim Kyung-ho) will implement the ‘2023 First Half Small and Medium Enterprise Development Fund Loan Support’ starting February 1, targeting small and medium enterprises and small business owners.
With ongoing high interest rates and economic recession, the struggles of small and medium enterprises and small business owners are deepening. Accordingly, the district plans to provide loan support worth 5 billion KRW annually to ease their financial burdens, stabilize management, and revitalize the local economy. This amount is 2 billion KRW more than last year.
This loan support, offered at a fixed annual interest rate of 1.8%, provides between 30 million KRW and 200 million KRW per company. The loan funds must be used for working capital, facility funds, or technology development funds, and repayment will be made in equal installments over three years after a one-year grace period.
The support targets small and medium enterprises and small business owners with workplaces in Gwangjin-gu. They must have been registered as a business in Gwangjin-gu for at least six months as of the application date and possess collateral capability recognized under bank credit regulations (such as real estate or credit guarantees). However, small and medium enterprises and small business owners currently repaying loans from the Gwangjin-gu SME Development Fund, as well as those in industries excluded from policy fund support such as finance and insurance, entertainment bars, and other gambling facilities, are not eligible.
Applicants wishing to apply must download the loan application form and business plan from the announcement section on the Gwangjin-gu Office website by February 21, complete them, and submit them in person along with other required documents to the Regional Economy Division of Gwangjin-gu Office.
Kim Kyung-ho, Mayor of Gwangjin-gu, said, “Small and medium enterprises and small business owners play a pillar-like role in the local economy,” adding, “I hope this loan support will help share their difficulties.”
The district plans to select loan recipients through document screening, credit review by Kookmin Bank, and a district review committee.
Park Kang-su, Mayor of Mapo-gu, Visits ‘Special Financial Support for Small Enterprises and Small Business Owners’ Reception Desk to Encourage Staff and Listen to Residents’ Concerns
On the morning of the 1st, Park Kang-su, Mayor of Mapo-gu, visited the ‘Special Financial Support for Small Enterprises and Small Business Owners’ reception desk set up on the 5th floor of Mapo-gu Office to encourage staff and meet residents who came early to apply, listening to their difficulties.
On this day, Mayor Park said, “Those who come to apply for special financial support do so with a desperate heart,” and urged staff to provide kind and proactive consultations, understanding the hardships of small enterprises and small business owners struggling with high prices and prolonged COVID-19.
Small business owner A, who came early to the reception desk for special financial support, said, “With the prolonged COVID-19 pandemic and added high interest rates and inflation, I am struggling day by day to the point of worrying about closure,” expressing relief that the district provided low-interest loan opportunities by understanding the difficulties of small enterprises and small business owners first.
The district strongly requested special guarantee credit recommendations to Woori Bank and Seoul Credit Guarantee Foundation to provide practical help to small enterprises and small business owners in urgent need of self-reliance support, enabling the establishment of a special financial support reception desk within the district office.
Mayor Park Kang-su said, “I deeply empathize with the increased difficulties of small enterprises and small business owners due to the prolonged COVID-19, high interest rates, and inflation, and thus prepared this special financial support policy,” adding, “I will be a guardian who listens to and cares for residents’ difficulties for a new and better Mapo.”
Gwanak-gu, Recruiting for ‘Gang Gam-chan Gwanak-type Livelihood Stabilization Jobs’ in the First Half of 2023
Providing public jobs to vulnerable groups and unemployed to stabilize livelihoods
Applications accepted at local community centers until February 8, total of 250 people selected... Work period from March 2 to June 30
Gwanak-gu (Mayor Park Jun-hee) is recruiting participants for the ‘2023 First Half Gang Gam-chan Livelihood Stabilization Jobs’ to stabilize livelihoods for low-income groups, vulnerable employment groups, and unemployed people facing economic difficulties due to ongoing high inflation.
A total of 250 people will be recruited: 70 under the age of 65 and 180 aged 65 or older. This first half ‘Gang Gam-chan Gwanak-type Livelihood Stabilization Jobs’ project will run for four months from March 2 to June 30. Anyone aged 18 or older with working ability and residing in Gwanak-gu as of the announcement date, January 27, can apply.
The application period is until February 8. Residents wishing to participate should check the announcement (recruitment notice) in the News section on the Gwanak-gu Office website, bring the required documents, and apply in person at their local community center.
The district will comprehensively review applicants’ assets, income, participation history, household members and size, and employment vulnerability status to select participants. Successful applicants will be individually notified on the 27th.
Selected participants will be assigned to the district office and community centers to perform tasks such as alleyway environment maintenance and visitor guidance.
Mayor Park Jun-hee said, “I hope the Gang Gam-chan Gwanak-type Livelihood Stabilization Jobs will help residents’ livelihoods even a little,” adding, “We will continue to actively create jobs that provide practical help to residents.”
Gangnam-gu Recruiting Companies to Participate in ‘Open Innovation’
Recruitment from January 25 to February 17... Calling for excellent ideas and technologies from companies to introduce into administrative services such as safety, transportation, welfare, and environment
Nam-gu (Mayor Cho Sung-myung), together with the Korea International Trade Association, is recruiting companies to participate in ‘Open Innovation’ until the 17th of this month.
‘Gangnam-gu Open Innovation’ is a contest to discover innovative ideas and smart technologies from companies that can bring innovative changes to Gangnam-gu administration. It is designed to introduce companies’ ideas, systems, and products into actual administration to build a smart city and provide convenience to residents.
The recruitment fields cover all administrative areas where smart technology can be introduced, including ▲administration and civil affairs ▲safety and disaster ▲transportation ▲welfare and daily life ▲energy and environment ▲tourism ▲data analysis ▲smart farms ▲working spaces, etc. Examples of major projects include ▲AI-based civil consultation ▲school zone traffic safety system construction ▲care system for elderly living alone ▲AI-based large waste disposal system ▲AR/VR experiences at major tourist sites, among others.
The district will select 10 companies through the first document screening and then hold a Demo Day to make the final selection. Selected companies will be provided with opportunities for technology demonstration and support for participation in exhibitions and various collaboration opportunities.
Companies wishing to participate can apply through the InnovBranch website by the 17th of this month. For more details, contact the Korea International Trade Association.
Mayor Cho Sung-myung of Gangnam-gu said, “Through this contest, we will discover excellent ideas, products, and services from companies and integrate them into administrative fields to provide innovative administrative services,” adding, “We will continue to actively adopt cutting-edge technologies to promote various smart policies that enable residents to live safer and happier lives.”
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