Samcheok City to Accept Applications for 2026 Small Business Development Fund Loan Recommendations

On January 6, Samcheok City in Gangwon Province announced that it will implement the "2026 Small Business Development Fund Loan Support Project" to support the management stability of local small business owners who are struggling due to the economic downturn.

Panoramic view of Samcheok City Hall. Provided by Samcheok City

The support is available to small business owners with fewer than five regular employees whose business location and representative's address are both in Samcheok City. For those in manufacturing, construction, and transportation industries, businesses with fewer than ten employees are also eligible. Both individual and corporate business owners can apply, and applicants must have been operating their business for at least one month as of the application date.

The maximum loan recommendation limit varies by industry. For construction and knowledge/information-related industries, the maximum is 100 million won; for wholesale and retail, general restaurant, and lodging businesses, the maximum is 70 million won; and for other small businesses, the maximum is 50 million won.

Additionally, for small business owners who have suffered damages due to disasters, special support is available, allowing for additional loan recommendations within the existing limits. If a loan is obtained using a credit guarantee foundation certificate, 50% of the guarantee fee will be supported for five years.

Applications for loan recommendations are accepted from January 1 to December 31, 2026, and the program will end early if the budget is exhausted. Small business owners wishing to apply must first confirm their eligibility for a loan with a financial institution, and then visit the Economic Affairs Division at Samcheok City Hall to submit their application.

A city official stated, "We hope that this small business development fund support will provide tangible assistance for the management stability and financial operations of local small business owners," adding, "We will continue to promote customized support policies that small business owners can truly feel in the future."