Loan limit increased from 50 million won to 150 million won
3.5 → 2.5%... Enhancing support efficiency through interest rate reduction
Alternative online platform support and unlimited consultations included
The Seoul Metropolitan Government will increase the loan support for small business owners affected by TMON and WEMAKEPRICE entry from the current 50 million KRW to 150 million KRW under the 'E-commerce Entry Damage Recovery Fund.' The interest rate, including the guarantee fee, will also be lowered from 3.5% to 2.5% to expand support, and continuous operation of support for their entry into online platforms is planned.
On the 8th, Seoul City announced that it will promote an expanded support plan for affected small business owners as a follow-up measure to the 'Support Plan for Small Business Owners Affected by TMON and WEMAKEPRICE Entry' announced last month.
First, to resolve the cash flow difficulties of companies affected by unsettled payments and delayed settlements on e-commerce platforms such as TMON and WEMAKEPRICE, the conditions for the 35 billion KRW scale 'E-commerce Entry Damage Recovery Fund,' which has been operating since the 9th of last month, will be relaxed.
The main points are to raise the loan support limit from the existing 50 million KRW to 150 million KRW and to lower the interest rate including the guarantee fee from 3.5% to around 2.5%. Accordingly, loans will be supported up to 150 million KRW per company (within the range of the damage amount), with a one-year grace period and four years of installment repayment, at a fixed annual interest rate of 2.5% including the guarantee fee. It was confirmed that larger companies have a higher loan application rate, so by adjusting the loan limit and interest rate, the support range will be expanded and sufficient funds will be provided to alleviate the difficulties of affected small business owners.
The fund support policy will also be maintained to complement government support for high-damage companies. To maximize the number of loan beneficiary companies within the current support scale, the trend of fund applications will be closely monitored, and continuous review of system improvements is planned.
Projects to support alternative platform entry and sales activation for small business owners whose sales have been impacted, such as the '1-on-1 Distributor Consultation Meeting' and the TMEP-affected small business owners exclusive 'Super Seoul Week,' will also be operated until the end of the year. The '1-on-1 Distributor Consultation Meeting,' which supports entry into alternative online platforms, will be held weekly until November. Participating small business owners can meet directly with MDs from about 30 distributors and receive support throughout the entire process from product coaching to entry. Since the priority support for TMEP-affected small business owners began in August, 29 small business owners have participated in the consultation meetings, and affected small business owners are given priority scheduling and can participate without any limit on the number of times.
The exclusive online special exhibition for affected small business owners, 'Super Seoul Week,' was scheduled to start on the 9th. The coupon discount rate for small business products listed on Korea's five major distributors (Gmarket, Lotte ON, 11st, Auction, Post Office Shopping) will be increased from the existing 20% to 30%, and the discount limit will be raised from 10,000 KRW to 20,000 KRW to help boost sales. Song Ho-jae, Director of the Seoul Metropolitan Government's Civil Livelihood and Labor Bureau, stated, "We will continue to monitor the support situation for small business owners affected by the TMON and WEMAKEPRICE incident, improve support measures, and focus on ensuring that small business owners are promptly and thoroughly assisted."
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