Ulleung-gun, Gyeongbuk Province, is implementing the ‘2025 Ulleung-gun Small Business Special Guarantee Interest Subsidy Support Project,’ which provides loan support through credit guarantees and loan interest subsidies to small business owners in the area who have growth potential but lack collateral.
This year, the project is operated on a scale of 1.2 billion KRW, increased by 700 million KRW from last year to strengthen support for small business owners amid the economic downturn.
The target beneficiaries are small business owners who have a residence and business location in Ulleung-gun and have been operating their business for more than six months. When executing a loan through a special guarantee, up to 50 million KRW per business (30 million KRW in 2024) will receive an expanded loan interest subsidy of 3% (2% in 2024) for two years.
Nam Han-kwon, the county governor, stated, “We hope that the small business special guarantee will provide practical help to small business owners facing difficulties due to high inflation, high interest rates, and high exchange rates, contributing to business stabilization and alleviating financial difficulties.”
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