Feb 9 • 08:01 UTC 🇰🇷 Korea Hankyoreh (KR)

Small Business Management Stabilization Voucher Application Begins

The Korea Small Business Development Agency has announced that applications for the 'Small Business Management Stabilization Voucher' will start on February 9, providing financial support to small businesses with annual sales below 100 million won.

The Korea Small Business Development Agency (KOSME), led by CEO In Tae-yeon, has announced the commencement of applications for the 'Small Business Management Stabilization Voucher' starting February 9. This initiative targets small businesses with an annual sales of less than 100 million won and provides a voucher worth 250,000 won that can be used for paying utilities such as electricity, gas, and water, as well as contributions to four major insurance types, vehicle fuel costs, and traditional market fire insurance premiums associated with KOSME, in a bid to stabilize operations amidst challenging economic conditions.

To improve application efficiency, KOSME has enhanced its system. For those small businesses that participated in the previous year's 'Small Business Burden Reduction Credit' program, a new feature will automatically recall their existing information, minimizing the inconvenience of re-entering data. The application process will take place through a dedicated website starting at 9 AM on February 9, and to prevent congestion, a two-part system based on the last digit of the business registration number will be implemented during the first two days of application.

KOSME has urged caution against phishing attempts that may impersonate the support program. Applications must be submitted through the official website, as KOSME does not request any form of payment or account passwords. In Tae-yeon emphasized that the voucher aims to support small businesses facing financial difficulties due to declining sales, assuring that swift implementation of the program will assist in stabilizing their operations.

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