The Ministry of SMEs and Startups announced on the 18th (Friday) that it held an on-site communication meeting to alleviate the financial burden on small business owners at the Daejeon Small Business Market Promotion Agency (hereinafter referred to as the Small Business Market Promotion Agency) Policy Research Institute.
In this meeting, small business owners who are faithfully repaying their loans using the Financial 3-piece Set or the Wish Charging Project, small business owners who are receiving rehabilitation support, and debt adjustment experts participated, and listened to the difficulties faced by small business owners who used policy funds and the debt adjustment system, and explained the support policies of the Ministry of SMEs and Startups, such as the long-term installment repayment and interest rate reduction project being promoted through the second supplementary budget.
Participants in the meeting freely shared their opinions on the ground, such as the need for a preferential policy for faithful repayment borrowers and difficulties in securing private finance during the recovery process. In response to inquiries, participants from the Ministry of SMEs and Startups, Small and Medium Business Administration, and Korea Credit Guarantee Fund explained support policies.
The Ministry of SMEs and Startups plans to allocate 290.4 billion won in the second supplementary budget for 2025 to the Small Business Debt Reduction Program for small business owners who are faithfully repaying policy funds and guarantees. Small business owners with management difficulties who are faithfully repaying will be supported with long-term installment repayment and interest rate reduction special cases, and small business owners who are faithfully repaying will be supported with special guarantees.
Choi Won-young, director of the Small Business Policy Bureau at the Ministry of SMEs and Startups, said, “We have decided to pursue the long-term installment repayment project to provide practical help to small business owners who have been faithfully repaying their loans even in difficult circumstances such as rising prices and operating costs,” adding, “We will do our best to ease the financial burden on small business owners by sufficiently discussing the opinions you have given us here today with the Ministry of SMEs and Startups as well as relevant ministries.”
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