CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

Chungbuk-do announced on December 3 that it has confirmed a plan to support small and medium-sized enterprises (SMEs) in 2022, worth KRW 402 billion, for stabilization of local SME's management

There will be 8 types of support funds.

The scale of support are as follows: the bank agreement funds for startups and competitiveness development funds KRW 100 billion (limit KRW 1 billion), KRW 200 billion for business stabilization support funds (limit KRW 500 million), KRW 15 billion won for special support funds for job creation companies (limit KRW 500 million), and jobs stabilization special funds for small businesses KRW 30 billion (limit KRW 300 million).

For these funds, the provincial government will cover the 1.8% difference of interest.

The funds sourced by the Chungbuk Small and Medium Business Development Fund will go to the venture knowledge industry support fund KRW 15 billion (limit KRW 500 million for facilities, KRW 200 million for operation), KRW 2 billion for the youth start-up support fund (limit KRW 100 million), KRW 30 billion for the special management stabilization support fund (limit KRW 300 million), and KRW 10 billion special funds for companies with reduced sales.

The interest for these funds is set at 1.8%.

The new special fund for companies with reduced sales this year applies to wholesale and retail businesses, accommodation and food businesses, and travel businesses, whose sales have declined due to restrictions on gatherings and operating hours due to the COVID-19 pandemic.

The provincial government also decided to postpone the principal repayment or extend the maturity of these funds after a review to prevent loan delinquency.

Also, the funds for start-up and competitiveness development will be supported in case of conversion from non-manufacturing to manufacturing industries, or addition of the manufacturing industry.

If a company which signed an investment agreement with the Province commence construction this year, the 1% preferential interest rate support will be given only to the funds for startup and competitiveness enhancement and management stabilization.

jcpark@yna.co.kr

Source Text

Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.

Source: Yonhap News (January 3, 2022)