2.15 Million Applications, 1.54 Million Selected
High Satisfaction Reported by On-site Users
The number of applications for the "Burden Relief Credit" support program implemented by the Ministry of SMEs and Startups surpassed 2 million within just two weeks. This figure accounts for approximately 70% of the 3.11 million eligible recipients.
On July 27, the Ministry of SMEs and Startups announced that the number of applications for the Burden Relief Credit support program had reached 2.15 million, with 1.54 million recipients already selected. A total of 603.3 billion KRW in credits (digital points) has been distributed.
The Burden Relief Credit program provides up to 500,000 KRW in credits to small business owners with annual sales of 300 million KRW or less, which can be used to pay utility bills (electricity, gas, and water) and the four major social insurance premiums. This initiative was launched to alleviate fixed costs. The program was allocated a total budget of 1.566 trillion KRW through the first supplementary budget. Applications can be submitted online until November 28, and credits can be used until December 31.
On-site, small business owners who have actually used the credits are sharing their experiences. Mr. A shared on a portal community, "After applying at burdenreliefcredit.kr and being selected as a recipient, I paid my electricity bill through the KEPCO ON app, my city gas bill on the Samchully City Gas website, and my water bill via the Mobile Giro application, all by card. I received a notification that the credits were deducted after payment." Mr. B stated, "I applied on July 16, which was the designated day for my business registration number under the five-day rotation system during the first week of applications, and received a notification on July 19 that I had been selected as a credit recipient. I then paid my health insurance premium by card."
Once selected as a credit recipient and after completing card registration, credits are automatically deducted when paying utility bills and insurance premiums, making the process simple and resulting in high satisfaction among users.
Meanwhile, as previously announced, starting August 1, when tax data is finalized, this year’s new business owners and prepaid card applicants will also be eligible to apply, which is expected to increase the number of users.
Choi Wonyoung, Director of Small Business Policy, stated, "As many small business owners are participating in a short period of time, we will do our utmost to ensure smooth operation of the system and call center. In addition to the Burden Relief Credit program, the Biz Plus Card and delivery/courier fee support are also being implemented as the three major support programs for small businesses. I encourage all eligible small business owners to apply for all three programs and enjoy the benefits."
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