Low-Interest Loans Brighten the Shoulders of Small Businesses and Small Merchants!

‘Gwangjin-type Special Loan’ ...To Alleviate Financial Burden Caused by High Interest Rates... Loans Up to 50 Million KRW per Business

District Provides 2% Secondary Interest Subsidy Special Support, Reducing Interest Burden with Around 1.5% Variable Interest Rate for 2 Years

‘Intensive Consultation Desk’ Operated on 19th-20th, Afterwards Ongoing Applications at Seoul Credit Guarantee Foundation Gwangjin Branch

Gwangjin-gu (District Mayor Kim Kyung-ho) will begin accepting applications for the ‘Gwangjin-type Special Loan’ targeting small-scale enterprises and small business owners starting from the 19th of this month.

The ‘Gwangjin-type Special Loan’ is designed to assist small enterprises and small business owners who face difficulties in securing funds due to low collateral. It aims to ease management burdens through low-interest loans combined with special secondary interest subsidy support.

To this end, on the 29th of last month, the district signed a business agreement with the Seoul Credit Guarantee Foundation and KB Kookmin, Woori, Shinhan, and Hana Banks. By securing contributions from each institution, a total loan fund of 52.5 billion KRW was established, providing support of up to 50 million KRW per business.

Additionally, the district provides an extra 2% secondary interest subsidy. As a result, a variable interest rate of around 1.5% will be applied during the 2-year grace period, reducing the interest burden. The loan principal is to be repaid in equal installments over 3 years following the grace period.

The support targets small enterprises and small business owners who have been registered in Gwangjin-gu for more than 3 months. However, businesses currently repaying loans supported by the Gwangjin-gu Small and Medium Enterprise Development Fund, those with a Seoul Credit Guarantee Foundation guarantee history within the past year, and industries excluded from policy fund support such as finance, insurance, entertainment bars, and other gambling facilities are restricted.

Applications can be submitted anytime starting from the 19th of this month. Applicants should prepare their ID card, a copy of their business registration certificate, and the value-added tax standard certificate for the past 3 years, and apply in person.

In particular, on the 19th and 20th of this month, an ‘Intensive Consultation Desk’ will be operated on the 6th floor of the Kiwoom Hall at the Gwangjin Economic Hub Center to provide detailed information. Visits are possible without prior reservation, and customized consultations regarding eligibility, procedures, and benefits can be received. From the 21st onward, applicants can visit the Seoul Credit Guarantee Foundation Gwangjin Branch by making a prior appointment.

Moreover, alongside the intensive consultation desk on the 19th and 20th, a ‘Visiting One-Stop Support Center for Small Business Owners’ will also be operated. Detailed guidance on tailored support services necessary for small business owners, including the special loan and management education, will be provided.

Kim Kyung-ho, Mayor of Gwangjin-gu, stated, “We are supporting the Gwangjin-type Special Loan for small enterprises and small business owners who are struggling to secure funds amid the ongoing economic crisis. We hope this project will help alleviate the burden caused by high interest rates and establish a stable management foundation.”

For more detailed information, please refer to the news board on the Gwangjin-gu Office website.

Yeongdeungpo-gu Provides Emergency Financial Support to Livelihood Economy through Employment Retention Subsidy

Up to 1.5 Million KRW Provided to Prevent Unemployment and Support Livelihood of Unpaid Leave Workers

Applications Accepted Until April 30... Laying the Foundation for Rebound of Unpaid Leave Workers

Yeongdeungpo-gu Ranks Top in Employment Rate among Seoul Districts! Expecting Even Better Job Policies Ahead

Yeongdeungpo-gu (District Mayor Choi Ho-kwon) announced that it will provide the ‘Employment Retention Subsidy for Unpaid Leave Workers’ to stabilize the livelihoods and prevent unemployment of unpaid leave workers who are struggling due to the economic downturn.

Since 2020, the district has partnered with Seoul City to provide the ‘Employment Retention Subsidy for Unpaid Leave Workers’ to support the livelihoods and prevent unemployment of workers employed at companies with fewer than 50 employees, who fall into the blind spots of the government’s employment retention subsidy. The total amount of employment retention subsidies paid by the district until last year reached 2 billion KRW.

This year, the district will provide an employment retention subsidy of 500,000 KRW per month for up to 3 months, totaling a maximum of 1.5 million KRW, to workers who have been forced into unpaid leave due to worsening business conditions.

The support targets workers employed at companies with fewer than 50 employees within the district who have taken unpaid leave for 7 days or more per month from July 1 of last year to April 30 of this year. However, employment insurance must be maintained until May 31.

Choi Ho-gwon, Yeongdeungpo District Mayor

Both workers and employers can apply for the subsidy. Applications can be submitted by visiting the Yeongdeungpo-gu Job Plus Center by the 30th of this month or via email, fax, or mail, bringing the application form available on the district website’s notices and announcements board, business registration certificate, employment insurance workplace acquisition list, and a copy of the bankbook. The subsidy is scheduled to be paid in June.

Additionally, since the 3rd of this month, the district has been providing the ‘Small Business Owner Support Employment Incentive’ to help small business enterprises reduce labor cost burdens and maintain employee employment.

Furthermore, the district is implementing multifaceted support to aid workers’ livelihood, prevent unemployment, and create jobs. For small and medium enterprises and self-employed small business owners, it operates the Small and Medium Enterprise Development Fund loan support and the Small and Medium Enterprise Startup Support Center. For job creation and employment support, it runs the Mid-to-Older Age Job Hope Platform for early retirees and those preparing for retirement in their 40s and 50s, hosts job fairs and the ‘Job4U’ job matching events, provides customized employment training, and operates the Safe Job Project.

As a result, according to statistics released by Statistics Korea in February, Yeongdeungpo-gu’s employment rate was 69.7%, ranking among the top in Seoul’s districts.

Choi Ho-kwon, Mayor of Yeongdeungpo-gu, said, “We hope this support fund will be a strong pillar for workers burdened by the prolonged economic downturn and give them hope to rise again. We will continue to strive to revitalize the local economy, create jobs, and invigorate the livelihood economy through solid policies for small business owners, workers, and entrepreneurs.”