DAEGU < invest Korea

According to Yonhap News,

On January 19, Daegu-si announced that it would implement various policies to support local small and medium-sized enterprises (SMEs) and small business owners.

The city plans to provide a credit guarantee of KRW 2 trillion and support SME management stabilization funds worth KRW 1.2 trillion.

The credit guarantee products include Special Guarantees for Small Business Owners (KRW 400 billion), Special Guarantees for the Transport Industry (KRW 70 billion), Special Guarantees for SME Facility and Competitiveness Enhancement (KRW 30 billion), and Bridge Guarantees (KRW 15 billion), among others.

Key support items for SME management stabilization funds include Growth Business Funds (KRW 300 billion) and General Startup Funds (KRW 200 billion). These funds will be provided through a system that covers part of the loan interest for one year.

The city also plans to revitalize traditional markets and alleyway commercial areas through projects such as fostering specialized markets, early opening of night markets, and expanding the designation of alley-type shopping streets. A KRW100 billion fund has been set up for supporting tourism districts and alleyway commercial revitalization.

Daegu's Mayor stated, "We will spare no effort in supporting the revitalization of the local economy."

hsb@yna.co.kr

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Source: Yonhap News (January 19, 2025)