Financial Services Commission Expands Eligibility for New Start Fund

Strengthening Linkage with Employment and Startup Programs

On the 27th, the Financial Services Commission announced that the eligibility for the Saechulbal Fund, a debt adjustment program exclusively for small business owners and self-employed individuals, will be expanded starting from that day.

Previously, only small business owners and self-employed individuals who operated their businesses from April 2020 to June of last year could apply, but the eligibility has now been extended to those who operated their businesses until November of last year.

The government will also strengthen linkage with startup and employment programs. To facilitate the swift recovery of closed small business owners and self-employed individuals, if they complete employment or startup programs from the Ministry of Employment and Labor and the Ministry of SMEs and Startups and succeed in employment or startup, public information related to debt adjustment will be immediately released.

On the same day, Kim So-young, Vice Chairman of the Financial Services Commission, visited the Seoul Gwangjin Community Finance Integrated Support Center and held a meeting, stating, "I hope that more small business owners will gain courage through the Saechulbal Fund in the future."