From 9 AM on the 16th, Ulsan Credit Guarantee Foundation website first-come, first-served registration
Loan interest partially subsidized within 80 million KRW limit at 1.2% to 2.5% per annum
Ulsan City will provide 30 billion KRW in the '2025 1st Small Business Management Stabilization Fund' to support the management stability of small business owners struggling due to the local economic downturn.
The support targets small business owners within Ulsan City, including manufacturing, construction, and transportation companies with fewer than 10 regular employees, as well as wholesale and retail businesses and restaurants with fewer than 5 employees.
Applicants can choose from a lump-sum repayment after a 2-year grace period, installment repayment over 2 years after a 1-year grace period, or installment repayment over 2 years after a 2-year grace period. Ulsan City will support part of the loan interest at rates between 1.2% and 2.5%, up to a limit of 80 million KRW per business.
In particular, for small business owners lacking collateral, the program will be implemented with full collateral guarantees from the Ulsan Credit Guarantee Foundation.
Applications will be accepted on a first-come, first-served basis starting at 9 a.m. on Thursday, January 16, through the Ulsan Credit Guarantee Foundation website.
Detailed information regarding the application for the management stabilization fund can be found on the websites of Ulsan City or the Ulsan Credit Guarantee Foundation.
An official from the city stated, “We will supply the small business management stabilization fund in a timely manner to serve as a support pillar for local small business owners to overcome the crisis.”
Ulsan City plans to provide a total of 80 billion KRW in small business management stabilization funds this year, including 30 billion KRW in this first round, 30 billion KRW in the second round in May, and 20 billion KRW in the third round in September.
Ulsan City Hall.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
