On the First Day of Q2 Small Business Loss Compensation, 13,495 Cases and 19.7 Billion KRW Paid

On June 9, when the advance payment application for second-quarter loss compensation began, a self-employed person is receiving related consultation at the Seoul Jungbu Center of the Small Enterprise and Market Service in Jongno-gu, Seoul.
[Photo by Yonhap News]

[Asia Economy Reporter Noh Kyung-jo] The Ministry of SMEs and Startups announced that as of 3 p.m. on the first day of the second quarter COVID-19 loss compensation payment on the 29th, a total of KRW 19.67 billion was paid to 13,495 companies.

At the same time, 49,734 applications amounting to KRW 67.33 billion were received. The second quarter loss compensation targets small business owners, small enterprises, and medium-sized enterprises with annual sales under KRW 3 billion that complied with business hour and personnel restrictions from April 1 to 17 this year and experienced a decrease in sales.

To prevent a surge in applicants, the Ministry of SMEs and Startups will implement a '5-day rotation system' based on the last digit of the business registration number until the 3rd of next month. On this day, businesses with registration numbers ending in 4 or 9 are eligible.

This content was produced with the assistance of AI translation services.