Up to 500,000 Won Support
for Small Businesses with Annual Sales Under 300 Million Won
Gochang County in North Jeolla Province announced on April 28 that it will implement the 'Small Business Card Fee Support Program' starting from May 1 until the allocated budget is exhausted.
The program targets small business owners in Gochang County whose annual sales in the previous year (2024) were 300 million won or less. The county will support card processing fees equivalent to 0.5% of card sales, up to a maximum of 500,000 won per business.
Even if an individual operates multiple businesses, applications can be submitted for each business location, with support available for up to two businesses per person. To further ease the burden on small businesses struggling due to the economic downturn and reduced consumer spending, the county has increased the maximum support amount to 500,000 won per business this year.
In addition, the required documents for application have been simplified to minimize inconvenience for applicants. Small business owners who wish to apply can visit the administrative welfare center in the town or township where their business is located. Further details can be found in the official announcement posted on the county office website.
County Governor Shim Deokseop stated, "Small businesses are the foundation of the local economy, and their recovery directly translates into revitalizing the region. I hope this support will provide practical help to small business owners who are facing difficulties due to the economic downturn."
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