Pohang City Supports Small and Medium Enterprises with 150 Billion KRW in Operating Funds

Online Applications for the GFund System Available from the 9th

4% Interest Rate Support per Company, Up to 500 Million KRW Loan

Pohang City will launch a working capital support project worth 150 billion KRW for local small and medium-sized enterprises (SMEs) facing financial difficulties starting from the 9th to welcome the New Year 2025.

In particular, from this year, the scope of industries eligible for SME working capital support has been expanded from the previous three industries?manufacturing, construction, and venture companies?to a total of 13 industries, including transportation and trade.

Additionally, to support local SMEs struggling due to the steel industry recession, the interest subsidy rate has been temporarily raised from the previous 2.5% (3% preferential) to 4% this year, and preferential support will be additionally provided to first-stage steel manufacturing companies, companies located in the Pohang Convergence Technology Industrial Complex in the Daegu-Gyeongbuk Free Economic Zone, and companies based in Guryongpo-eup.

Loan applications can be submitted online through the G-Fund system. New applicants must first register as members and register their companies before applying for funds and uploading the required documents.

Applications are accepted on a rolling basis from the 9th until funds are exhausted. For more details, please refer to the notices section on the Pohang City website or contact the Corporate Support Team of the Investment and Corporate Support Division of Pohang City for guidance.

Mayor Lee Kang-deok stated, “We hope that by providing working capital support to local SMEs facing difficulties due to high inflation, high interest rates, and delayed domestic demand recovery, we can help stabilize management and overcome financial hardships. In the New Year 2025, we will continue to develop and implement various support policies to resolve corporate management difficulties.”

Pohang City Hall.