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Gwangju Office of SBC to Provide Subsidies for Small Manufacturers

(GWANGJU = Newsis) The Gwangju Regional Office of the Small and Medium Business Corporation (SBC) will provide supports to small manufacturers with less than 10 regular employees through a small business specialization fund.

The small business specialization fund fully reflects vulnerability of small businesses and provides subsidies to businesses with excellent technologies, allowing small manufacturers to borrow money much easier and quicker.

The allocated budget for the support program is KRW 300 billion, up by KRW 50 billion from the last year, and the SBC will grant 100 percent of loans on credit. A business may borrow up to KRW 500 million (KRW 100 million for operating expenses) for investment in facilities and infrastructure.

Application for the program will be accepted between 11th and 20th every month. A business can submit its application to the SBC’s website ( The SBC also provides information and consulting services on phone (062-600-3000).

Source Text

Source: Newsis (Mar. 14, 2014)

** This article was translated from the Korean.