Daejeon City Extends Application Deadline for Small Business Management Recovery Support Program to April 28

Up to 500,000 KRW in Management Cost Support
Online Applications Available 24/7, Including Weekends

Daejeon City has announced that the application period for the 'Small Business Management Recovery Support Project' will be extended until April 28.

The 'Small Business Management Recovery Support Project' provides up to 500,000 KRW in management cost support per business to small business owners and self-employed individuals whose sales in the previous year were less than 104 million KRW.

With approximately 58,000 businesses, which is 67% of the total 86,400 eligible businesses, having already applied, and with more than 900 applications being submitted daily on average recently, the city decided to extend the original application deadline from the end of March to April 28.

Applications can be made with just three documents (business registration certificate, sales proof, and management cost expenditure proof). If the documents are deemed eligible after review, up to 500,000 KRW will be provided within one week of application. Businesses excluded from small business policy funds (such as certain speculative industries), non-profit organizations, and businesses that are temporarily closed or shut down are not eligible for support.

In principle, businesses with 'zero' sales in the previous year are excluded as they are considered not to have been in actual operation. However, if there is objective proof of expenditure such as a finalized VAT return, exceptions may be made for support.

Applications can be submitted 24 hours a day, including weekends and holidays, through the Daejeon Credit Guarantee Foundation website. On weekdays from 9 a.m. to 4 p.m., on-site applications are also accepted at the main office of the Daejeon Credit Guarantee Foundation.

Kwon Kyungmin, Director of Economic Affairs for Daejeon City, said, "We have generously extended the application deadline so that more people can receive support," and added, "We will do our best to ensure that small business owners and self-employed individuals, who are busy with their livelihoods, do not miss the application period and suffer any disadvantages."