GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) Gwangju City announced January 8 that it will supply KRW 247.5 billion of small and medium-sized companies (SMEs) development fund to resolve financial issues faced by SMEs.

The fund, which is KRW 4.2 billion more than last year’s, comprises KRW 200 billion of management stability fund and KRW 35 billion of structure advancement fund.

The management stability fund preserves 2-3 percent of the market price interest rate when a financial institution loans to a relevant company.

The recipients will be SMEs and manufacturing related service companies in the city.

The structure advancement fund is a short-term fund to expand facilities and carry out management innovation of SMEs. Each company can receive up to KRW 1.3 billion.

The application for the management stability fund and the structure advancement fund will begin on January 12 and 28, respectively, via the Gwangju Economy & Employment Promotion Agency.

For more information, contact the Gwangju Economy & Employment Promotion Agency (Tel: 062-960-2600).

nicepen@yna.co.kr

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