Ulsan City to Provide 30 Billion Won in Second Small Business Management Stabilization Fund

First-come, first-served applications open at 9 a.m. on May 8
Annual interest subsidy of 1.2% to 2.5% for amounts up to 80 million won

The Ulsan city government will provide 30 billion won in the "2025 Second Small Business Management Stabilization Fund" to support the business stability of small business owners struggling due to the local economic downturn.

The support is available to small business owners in the region, specifically those in manufacturing, construction, and transportation industries with fewer than 10 regular employees, as well as those in wholesale and retail, restaurants, and similar businesses with fewer than 5 employees.

Each business can receive up to 80 million won, with a choice of repayment plans: a lump-sum repayment after a two-year grace period, a two-year installment repayment after a one-year grace period, or a two-year installment repayment after a two-year grace period.

The Ulsan city government will subsidize part of the loan interest, ranging from 1.2% to 2.5%.

In particular, for small business owners who lack sufficient collateral, the program will be implemented with full collateral guarantees provided by the Ulsan Credit Guarantee Foundation.

Applications will be accepted on a first-come, first-served basis starting at 9 a.m. on May 8 through the Ulsan Credit Guarantee Foundation website. To offer more options to customers, the number of partner banks will be expanded from eight to nine.

Detailed information regarding the application process for the management stabilization fund can be found on the websites of the Ulsan city government and the Ulsan Credit Guarantee Foundation.

An official from the city stated, "We will ensure the timely provision of funds to help local small business owners overcome crises amid unprecedented domestic and international emergencies, such as customs duties."

Ulsan City Hall.