Photo: YONHAP News
The’Support Fund’ project, which provides cash ranging from 1 million won to 3 million won to small business owners, is announced on the 6th of the following month and the payment process begins on the 11th.
The Ministry of Strategy and Finance announced that the government announced on the 29th that the’customized damage support measures in response to the third coronavirus outbreak’ will be presented to the State Council on the 5th of next month, and then announced the next day.
On the 11th, an information letter will be sent to the small business owner, and online application will begin.
In this regard, Deputy Prime Minister Hong Nam-ki said that he is preparing to pay 90% before the Lunar New Year, and appeared on KBS News 9 on the 29th.
The targets of the support fund are general industries with annual sales of less than 400 million won and sales decreased from last year, and small business owners in industries that were suspended or restricted in accordance with the government’s social distancing guidelines.
Small business owners who previously received the government’s new desired funds can receive the money sooner, and the first approximately 300,000 applicants are expected to complete the VAT declaration on the 25th of the following month, and the government will go through the procedure and start payment.
The Emergency Employment Stability Support Fund for special-type workers and freelancers will be announced on the 6th of the following month to 650,000 people who received support during the first or second period.
Notifications are sent from the 6th to the 8th, and the application is from the 6th to the 11th.
The government plans to start payment on the 11th and pay before the Lunar New Year holiday.
However, for 50,000 new applicants who have not received support before, the payment process will proceed after the business announcement on the 15th of the following month.
The government plans to start paying 3.32 million people, 88% of the total 3,670,000 people eligible for direct cash support, including those who receive existing support funds or emergency employment stabilization grants, and those eligible for income stabilization funds for corporate taxi drivers.
The 440,000 people, including those who are eligible for new support and those who are eligible for the livelihood subsidy for visiting and caring workers, will be paid one after another starting at the end of February next year.