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Photo source, News1
Starting on the 11th of next month, the government will pay disaster subsidies to small businesses that have suffered damage from the spread of the new coronavirus infection (Corona 19).
The Korean government is investing a total of 9.3 trillion won for 5.8 million people from small businesses and disadvantaged people suffering from the new coronavirus infection (Corona 19).
On the 29th, the government held an Emergency Economy Countermeasures Headquarters meeting and announced ‘Custom Damage Support Measures for Corona 19 3rd Spread Response’, including a grant of up to 3 million won to victims of small businesses.
Out of a total of 9.3 trillion won, it consisted of 5.6 trillion won for emergency damage support for small businesses and people vulnerable to employment, 800 billion won to strengthen the quarantine of Corona 19, and 2.9 trillion won. won for personalized support packages for victims.
President Moon Jae-in explained at a video-chaired state council meeting in the morning, “We decided quickly to provide a third 9.3 trillion won disaster relief fund to protect the lives of people in crisis “.
The government plans to begin the third disaster support payment from the 11th of next month and complete the payment for 90% of the target population before the Lunar New Year holidays.
Photo source, News1
The government provides a common support of 1 million won for small business owners and the self-employed, and also pays 1 million to 2 million won differently for rent support, depending on the scope of business restrictions.
Small Business Owner Support Fund … Supported from 1 million won to 3 million won
Starting on the 11th of next month, the government will pay 1 million to 3 million won differentially to banned and restricted business groups and small business owners with annual sales of less than 400 million won through the “support fund to small business owners. ”
First, one million won is paid in one go, followed by an additional one million won for the group-restricted business and 2 million won for the group-prohibited business.
In today’s metropolitan area, in step 2.5, the grouping of prohibited businesses is entertainment facilities such as entertainment bars and hunting pots, karaoke rooms, and gymnasiums, while restricted business groups include restaurants, cafes, lounges. PCs, show rooms, beauty salons, shopping centers and game rooms.
Ski resorts and winter sports facilities that have been damaged by strengthening social distancing are also considered collectively banned.
48,000 lodging establishments, which are small business owners, also receive 2 million won in support funds.
Regardless of whether sales decline or not, the support fund can be received, and specially damaged industries and existing beneficiaries of the new desired fund can be quickly paid for by application without a separate selection.
Small business owners that have been closed are also possible
Small business owners who have already closed their business can also receive subsidies. The government has decided to extend the ‘Retry Incentive for Closed Stores’, which has been implemented starting this year, to provide 500,000 won each to small business owners who have closed their business.
Additionally, it will support 10,000 people with a return of hope package, such as an employment and education incentive allowance for conversion of up to 1 million won and reboot marketing support of up to 10 million won.
Small Business Owner Loan Extension
It will also expand rental support using policy funds for small business owners. The support limit for the existing secondary financial support program for small business owners was up to 20 million won (2-year service, 3-year installment payment). The existing guarantee fee was 0.9%, but this time it was reorganized, and the first year it is reduced to 0.3% and the second to the fifth year is 0.9%.
Additionally, for small business owners in limited partnerships, they can receive additional loans of up to 10 million won regardless of whether they use existing small business financial support. As for the warranty fee, the first year warranty fee is exempt for the collective limited industry, and the second to fifth year warranty fee is reduced to 0.6%.
This special support for small businesses will be available starting on the 18th of next month, and specific plans will be announced on the ticket as early as today.
Support for the disadvantaged, as special advisers and freelancers
A 500 billion won income stabilization fund will be provided to 700,000 people in underprivileged sectors, such as special-type and self-employed workers suffering from the extended period of Corona 19, as well as small business owners.
The government plans to pay 500,000 won to existing beneficiaries and 1 million won to new beneficiaries who have already received benefits through the fourth supplemental administration without a separate review.
Furthermore, even if it is excluded from the existing emergency support, a life support fund of 500,000 won is provided to 90,000 people working in visitation and care services, and 80,000 corporate taxi drivers also receive 500,000 won in an income stabilization fund.
Hong Nam-ki, Deputy Prime Minister of Economy and Ministry of Strategy and Finance, said in a briefing on the day that “we will shorten the requirements review as much as possible or provide support to 90% of beneficiaries before replacing it with a post-examination. “.
Crown 19 quarantine
Meanwhile, the government is also investing an additional 800 billion won to strengthen Corona 19 prevention.
Along with the expansion of negative pressure facilities in newly designated infectious disease hospitals, KRW 24.1 billion will be provided for the establishment of treatment facilities in nursing and psychiatric hospitals vulnerable to group infections, and KRW 71, 6 billion for the installation of 200 negative pressure beds in local medical centers.
In addition, quarantine and medical staff will focus on facilities that need an emergency response, and screening clinics will be expanded. In particular, as an incentive for the voluntary provision of hospital beds by private medical institutions, it also prepared 400 billion won in compensation for losses in medical institutions.
Finance used the maximum budget available. The government plans to fund next year’s grant with a nominal budget of 3.4 trillion won and a purpose reserve of 4.8 trillion won, with 600 billion won remaining unused from this year’s budget.
