Applications accepted until the 16th
Interest subsidies on loans up to 300 million won
Jeonju City in North Jeolla Province is accepting final applications for the "2025 First Half SME Development Fund Support Program" to help stabilize the management of small and medium-sized enterprises until May 16.
According to the city on May 12, this program is aimed at SMEs whose main business sites are located in Jeonju. Each company can receive interest subsidies on loans of up to 300 million won (up to 20 million won for micro-businesses).
Specifically, support is available within 50% of the company's annual sales, and for companies applying for 50 million won or less, the entire requested amount is eligible for the subsidy.
The eligible sectors are broadly defined and include manufacturing, transportation (city buses and corporate taxis), designated food service businesses, venture companies, businesses engaged in the collection and sale of recycled materials, technology-driven companies, small and medium-sized exporters, social enterprises, and knowledge service industry companies.
Loans are provided through nine local banks in Jeonju (Jeonbuk Bank, KB Kookmin Bank, Shinhan Bank, IBK Industrial Bank of Korea, KEB Hana Bank, KDB Korea Development Bank, Woori Bank, NH Nonghyup Bank, and Suhyup Bank), with an interest subsidy rate of up to 3.5% applied.
Lim Sookhee, Director of Economic and Industrial Affairs at Jeonju City, stated, "The rapid depletion of the first half support fund reflects the current reality, where SMEs are struggling to secure funds due to high interest rates and economic slowdown." She added, "We hope that companies will actively take advantage of this final round of low-interest loans to strengthen their competitiveness."
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