Gyeonggi-do Launches Nation's First 'Gyeonggi Small Business Cheer UP Card' Nationwide

Operating Expense-Only Card with No Interest, Guarantee Fee, or Annual Fee
Nation's First Support for Small Business Operating Expense-Only Card
First Phase to Supply 20,000 Small Businesses Nationwide with 100 Billion KRW Scale

Gyeonggi Province announced on the 2nd that it will officially implement the ‘Gyeonggi Small Business Owners HimnaeGO Card (hereinafter Gyeonggi HimnaeGO Card),’ the nation’s first dedicated operating expense card for small business owners, starting in 2025.

Gyeonggi Provincial Government Building. Provided by Gyeonggi Province

This card is designed to reduce the financial burden on small business owners and alleviate economic difficulties. Unlike traditional loan support methods, it is structured to prevent any decline in credit ratings. It is characterized as a so-called ‘3-no card’ with no interest, no guarantee fees, and no annual fees. Thanks to the pilot project launched in November last year with a scale of 5 billion KRW being fully utilized within just 23 days, the supply scale will be significantly expanded and officially launched from the 6th of this month.

The ‘Gyeonggi HimnaeGO Card’ can be used interest-free for up to 6 months over a maximum period of 5 years exclusively for essential operating expenses such as material costs and utility bills. However, cash advances, card loans, and payroll payments are not allowed. Additionally, benefits such as up to 500,000 KRW cashback and tax deduction incentives are provided.

To implement the project, Gyeonggi Province allocated 15 billion KRW in the 2025 main budget and will initially supply a total of 100 billion KRW. Each business can use up to 5 million KRW, and approximately 20,000 small business owners in the province are expected to benefit. IBK Industrial Bank of Korea, which signed an agreement, will bear 25 billion KRW in the first supply phase. Depending on the fund consumption trend, the province plans to pursue a second supply within the year.

Card applications will be available from the 6th via the Gyeonggi Credit Guarantee Foundation’s mobile app (Easy One). During the pilot project period, card issuance was only possible at bank counters, but from this year, it can be obtained more conveniently through the app.

The ‘Gyeonggi HimnaeGO Card’ is expected to contribute to revitalizing the local economy by preventing credit rating declines among small business owners and shortening the time needed to secure operating funds. Furthermore, small business owners supported through this card are anticipated to secure business stability and promote long-term growth.

Heo Seung-beom, Director of the Gyeonggi Province Economic Office, said, “The Gyeonggi HimnaeGO Card is a groundbreaking policy that practically reduces the essential operating expense burden for small business owners. We will continue to do our best to create a stable business environment for small business owners in the province through sustainable support policies.”