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Daejeon city, to grant subsidies to financially struggling local entrepreneurs

According to Yonhap News,

The city of Daejeon announced on Jan. 15 that the local authority will spend as much as KRW 17.3 billion on a financial remedy, helping economically strapped entrepreneurs remain sustainable. The size of the budget totals KRW 114 billion. Candidates selected to be the beneficiary of the program can be granted up to KRW 60 million. The city government also covers 2 percent of corporate loan interests, while providing subsequent services worth KRW 950 million such as advisors’ business coaching service.

Entrepreneurs who hire employees aged over 50 for 6 consecutive months will be on the candidate list to have cash grants- KRW 500,000 per month, up to 3 million.

Source Text

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Source: Yonhap News (Jan. 15, 2020)

*This article was translated from Korean.