Jungjingong Operates 'Ambulanceman' System... Full Effort to Respond to Abnormal Summer Climate

Rapid Support Within 5 Days for Businesses Affected by Natural Disasters Such as Heavy Rainfall

The Small and Medium Business Corporation announced on the 25th that it will operate the ‘Ambulance Man System’ to quickly support companies affected by abnormal weather conditions during the summer season.

Recently, abnormal weather phenomena such as heavy rain, typhoons, and heatwaves caused by global warming have been rampant worldwide. In South Korea as well, localized heavy rain is forecasted for this summer, requiring thorough preparation to prevent natural disasters.

Accordingly, as part of the ‘Pre-Inspection Meeting for Summer Heavy Rain and Typhoon Preparedness’ hosted by the Ministry of SMEs and Startups, the Small and Medium Business Corporation will operate the ‘Ambulance Man System,’ which provides loan support for recovery costs to disaster-affected companies through emergency management stabilization funds.

Small and Medium Business Corporation

The ‘Ambulance Man System’ dispatches on-site experts called Ambulance Men to affected companies and decides on support within five days. Unlike general policy funds, it allows for speedy support by omitting procedures such as online application submissions.

The loan period is a 2-year grace period followed by 3 years of installment repayment, with a fixed interest rate of 1.9%, which is 1.0 percentage point lower than the policy fund base rate. The loan limit is up to 1 billion KRW per company within the damage amount (up to 1.5 billion KRW over 3 years).

Kim Moon-hwan, Director of Corporate Finance at the Small and Medium Business Corporation, said, “This summer’s abnormal weather raises concerns about management difficulties for SMEs and startups,” adding, “If damage occurs, we will make every effort to actively utilize the Ambulance Man System to support the prompt normalization of affected companies’ management.”