According to the Small Business Association on June 11, these initiatives are part of a recovery support program established under a memorandum of understanding aimed at promoting the New Start Fund for small business owners and self-employed individuals. The program is designed to alleviate the management burdens of small business owners who are diligently fulfilling debt restructuring agreements while preparing for a rebound amid economic downturns and sluggish domestic demand.
The "Management Environment Improvement Support Project" aims to enhance store competitiveness and boost sales by improving the physical environment of businesses that have high demand from small business owners.
Eligible participants are those who have operated their businesses for over three years and are compliant borrowers of the New Start Fund. Applications have been open since June 1. Compliant borrowers are defined as those who have made payments on their restructured debts without delay for over a year after the debt adjustment was finalized. Selected participants will receive support for improvements such as replacing aging external signage, which is expected to provide tangible assistance to small business owners struggling with the costs of facility upgrades.
The "Health Checkup Support Project" is being implemented to protect the health rights of small business owners and self-employed individuals who face challenges in managing their health due to long working hours and financial stress.
Applications will open on June 15. Those selected will receive up to 300,000 won for health checkup expenses.
Song Chi-young, president of the Small Business Association, stated, "It is crucial for small business owners preparing for recovery to receive practical support that they can truly feel. I hope this initiative serves as a solid stepping stone for their resurgence through improved business environments and health management support."
Additionally, on June 9, the Small Business Association held a rally in front of the National Assembly, urging the protection of the rights of small business owners and a major overhaul of employment policies. At this event, Song Chi-young proposed measures such as the introduction of a minimum income guarantee for small business owners.
* This article has been translated by AI.
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