Emergency Management Stabilization Funds Worth 65 Billion KRW
for Export-Damaged and At-Risk Companies
Jeollanam-do is launching emergency management support for local companies in the petrochemical and steel industries that have suffered or are at risk of suffering from tariffs imposed by the United States under the Trump administration.
First, Jeollanam-do will provide 10 billion KRW in emergency management stabilization funds to small and medium-sized enterprises (SMEs) affected or likely to be affected by the tariffs. The province plans to alleviate the financial burden on companies by offering interest subsidies (2.9 percentage points) for these stabilization funds.
Applications for this financial support can be submitted through the Jeonnam Small and Medium Business Job and Economy Promotion Agency, and further details can be found in the announcements section of the Jeollanam-do official website.
Additionally, to ease the management burden on SMEs, including export companies, Jeollanam-do will offer special guarantees totaling 55 billion KRW to reduce guarantee fees for export companies. Applications for this program can be submitted through the Jeonnam Credit Guarantee Foundation and the Bojeung Dream app.
Seo Eunsu, Director General for Job Creation and Investment Promotion at Jeollanam-do, stated, "At a time when economic difficulties are intensifying both domestically and internationally, we have quickly established support measures to provide even a small amount of help to SMEs in the province," adding, "We will actively promote these measures so that companies in need can access them in a timely manner."
Since the beginning of the year, Jeollanam-do has expanded its management stabilization funds for SMEs and small business owners to 650 billion KRW and is providing interest subsidies (ranging from 1.5 to 3.5 percentage points), rapidly implementing policies to help revive the local economy.
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