300 Billion Scale... Management Stability and Financial Difficulties Resolved
Jeonbuk Special Self-Governing Province will begin accepting applications for 2025 SME Development Funds totaling 300 billion KRW starting from the 6th.
According to the province on the 2nd, this initiative aims to support the management stability and alleviate funding difficulties of local small and medium-sized enterprises, as well as to revitalize the regional economy. This year’s fund is the largest ever, increased by 30 billion KRW compared to the previous year.
The SME Development Fund provides policy funds at low interest rates to create a stable business environment and reduce financial burdens for companies. The support is divided into the following categories: ▲Startup and Competitiveness Enhancement Fund (120 billion KRW) ▲Venture Business Development Fund (20 billion KRW) ▲Management Stability Fund (160 billion KRW).
Notably, starting this year, the loan limits per company will be significantly increased. The facility fund (Startup and Competitiveness Enhancement Fund) will rise from 1 billion KRW to 1.5 billion KRW, and the operating fund (Management Stability Fund) will increase from 300 million KRW to 500 million KRW (700 million KRW for preferential companies), enabling businesses to establish a more stable management foundation.
The application schedule for each fund in the first quarter is as follows: ‘Startup and Competitiveness Enhancement Fund’ from the 6th to the 10th, ‘Venture Business Development Fund’ from the 13th to the 17th, and ‘Management Stability Fund’ from the 20th to the 24th.
If the funds are not exhausted within the quarter, additional applications will be accepted in the following month to ensure that companies in need can receive timely support.
Applications can only be submitted online through the ‘Jeonbuk Special Self-Governing Province SME Comprehensive Support System’, and the application hours are from 9 AM to 6 PM.
For more details, please contact the Corporate Difficulties Resolution Division of Jeonbuk Special Self-Governing Province or the Jeonbuk Special Self-Governing Province Economic and Trade Promotion Agency.
Kim Intae, Head of Corporate Attraction Support Office, stated, “Taking into account the recent challenging economic conditions, we will do our utmost to swiftly provide SME development funds to help local SMEs overcome their difficulties and inject vitality into the regional economy.”
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