Totaling 27 Billion Won
"Revitalizing the Local Economy"
Jeonbuk Province is now accepting applications for the "2025 Fourth Quarter Small and Medium-Sized Enterprise Development Fund" to help alleviate funding difficulties and support business stability for local SMEs.
According to the province on October 13, this support program, totaling 27 billion won, has been established to provide policy funds at low interest rates, thereby helping stabilize business operations and revitalize the local economy.
Specifically, 15 billion won is allocated for startup and competitiveness enhancement funds, 10 billion won for business stability funds, and 2 billion won for venture business development funds. Eligible applicants are small and medium-sized enterprises with business sites in the province, including those in manufacturing, manufacturing-related services, knowledge-based industries, and venture companies.
The maximum loan limits per company are as follows: up to 1.5 billion won in facility funds for startup and competitiveness enhancement, up to 500 million won in working capital for business stability funds (700 million won for preferred companies), and up to 600 million won for venture business development funds. The province will provide interest subsidies ranging from 2% to 3.18%, and companies will be responsible for the remaining interest.
The application periods are as follows: startup and competitiveness enhancement funds from October 13 to 17; business stability funds from October 20 to 24; and venture business development funds from October 27 to 31. Applications can only be submitted online through the Jeonbuk Province SME Integrated Support System; on-site submissions are not accepted.
For more details, applicants should refer to the "2025 SME Development Fund Loan Support Plan Amendment Notice" posted on the Jeonbuk Province website, or contact the Corporate Grievance Relief Division or the Fund Support Team at the Jeonbuk Economic and Trade Promotion Agency.
Kim Intae, Director of Corporate Attraction Support, stated, "We hope that SMEs, who are facing many challenges due to recent changes in domestic and international economic conditions, will achieve tangible business stability through this funding. We will continue to expand tailored financial support for SMEs and do our utmost to restore vitality to the local economy."
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