Management Recovery for Small Business Owners, AI Technology Innovation, and More
The Ministry of SMEs and Startups announced on July 4 that the second supplementary budget for 2025, totaling 925.8 billion won, has been finalized through a resolution of the National Assembly's plenary session.
Following the first supplementary budget of 4.8 trillion won in May, the Ministry will focus on stimulating the economy and stabilizing people's livelihoods. Specifically, it will allocate 312.8 billion won to support the recovery and normalization of small business owners, 359 billion won to promote the dissemination and utilization of technology innovation such as artificial intelligence (AI) for securing a competitive edge in AI technology, and 254 billion won to strengthen the startup ecosystem for promising startups in fields such as deep tech.
In particular, the Ministry has actively included projects that can be directly felt in the field, such as the debt burden improvement project for small business owners, which is a core initiative of the second supplementary budget. During the National Assembly's review, an additional 300 million won was newly allocated for international events aimed at improving public perception of small business owners.
Minister Oh Youngju stated, "This second supplementary budget, following the first, was formulated by reflecting the voices from the field as much as possible to boost the economy and stabilize livelihoods," and added, "We will concentrate all policy capacities to ensure this leads to domestic demand revitalization and innovative growth."
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