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Ulsan-si to invest KRW 220 bn to foster SMEs this year
On January 2, Ulsan-si announced that it will push for the "2025 SME Growth Fund Support Plan", in a scale of KRW 220 billion this year.
The city will supply funds early in the first half of the year to help SMEs suffering from various management difficulties, and will make all-out efforts to establish a tight financial safety net, especially for industries suffering from high-interest rates.
The city will expand the number of industries to receive support from 10 to 16 in the construction sector, which suffers from management difficulties due to rising raw materials and closing of contractors' businesses .
The taxi transportation industry, which is financially vurnerable due to rising fuel costs and the decrease in users, was also added in the industry to receive support.
The city will also cooperate with the Korea Credit Guarantee Fund to establish a safety-based guarantee fund worth KRW 5 billion per year to promote the prevention of industrial accidents among SMEs. The fund will be used to support the replacement of old facilities, the introduction of safety facilities, and the recruitment of professional manpower.
Those who want to apply for the 1st fund this year should visit the Ulsan Business Promotion Institution on January 13-17.
More information on the support can be found on the announcement of the support plan on the Ulsan city website.
hkm@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2025.01.02
Views
98
According to Yonhap News,
On January 2, Ulsan-si announced that it will push for the "2025 SME Growth Fund Support Plan", in a scale of KRW 220 billion this year.
The city will supply funds early in the first half of the year to help SMEs suffering from various management difficulties, and will make all-out efforts to establish a tight financial safety net, especially for industries suffering from high-interest rates.
The city will expand the number of industries to receive support from 10 to 16 in the construction sector, which suffers from management difficulties due to rising raw materials and closing of contractors' businesses .
The taxi transportation industry, which is financially vurnerable due to rising fuel costs and the decrease in users, was also added in the industry to receive support.
The city will also cooperate with the Korea Credit Guarantee Fund to establish a safety-based guarantee fund worth KRW 5 billion per year to promote the prevention of industrial accidents among SMEs. The fund will be used to support the replacement of old facilities, the introduction of safety facilities, and the recruitment of professional manpower.
Those who want to apply for the 1st fund this year should visit the Ulsan Business Promotion Institution on January 13-17.
More information on the support can be found on the announcement of the support plan on the Ulsan city website.
hkm@yna.co.kr
Source Text
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Source: Yonhap News (January 2, 2024)
** This article was translated from Korean.