Ulju-gun, Full Support for Local Small Business Owners

Ulsan's First Low-Credit Special Guarantee and Business Stabilization Fund Support, Expansion of Card Fee Support

Ulju-gun, Ulsan City, is making every effort this year to provide comprehensive support for local small business owners facing management difficulties due to rising prices and economic recession.

Ulju County Office.

Following the establishment of the Small Business Support Team in the second half of last year to provide tailored support for small business owners, Ulju-gun will actively expand and strengthen small business support projects this year.

First, to alleviate the loan interest burden on local small business owners struggling with management difficulties caused by interest rate hikes, the first round of the 2024 Ulju-gun Small Business Management Stabilization Fund will be provided.

The Management Stabilization Fund is a program that supports part of the interest when small business owners with workplaces in Ulju-gun receive bank loans. Loans of up to 60 million KRW per business are available, and an interest differential subsidy of 3% will be provided for three years.

The total loan scale for the Ulju-gun Small Business Management Stabilization Fund this year is 30 billion KRW. Each 15 billion KRW will be invested in the first project this time and the second project scheduled for June.

Applications can be made from 9 a.m. on the 7th of next month either by visiting Ulju-gun Office (20%) or online (80%) through the Ulsan Credit Guarantee Foundation website.

For more details, refer to the announcement on the Ulju-gun website or contact the Nam Ulsan Branch or Seoul-san Branch of the Ulsan Credit Guarantee Foundation.

In March, for the first time in Ulsan, special guarantees and interest support for low-credit small business owners will be launched. This is a newly initiated project with a secured budget of 570 million KRW.

Ulju-gun plans to contribute 500 million KRW to the Ulsan Credit Guarantee Foundation to provide special guarantees and partial interest support (3%) for small business owners with low credit scores (NICE credit score of 744 or below).

The newly launched Management Environment Improvement Project will also be promoted from April this year.

Ulju-gun has secured a total budget of 350 million KRW to support store environment improvement costs for local small business owners who have been in business for more than six months. Up to 2 million KRW per business can be supported for costs related to improving outdated store environments such as interior or business facilities.

The existing card fee support project will also be expanded starting in June.

This project supports card fees equivalent to 0.5% of sales for small business owners with annual sales of 300 million KRW or less in the previous year.

Ulju-gun will increase the maximum support amount from 300,000 KRW last year to 500,000 KRW this year with a budget of about 1 billion KRW.

County Governor Lee Soon-geol said, “We will continue to discover and actively implement policies that provide practical help to local small business owners struggling due to the economic recession, and do our best to stabilize the management of local small businesses and revitalize the local economy.”