The Ministry of SMEs and Startups will provide financial support such as emergency management stabilization funds and disaster special guarantees to small and medium-sized enterprises and small business owners affected by forest fires in the Gyeongbuk and Gyeongnam regions.
On the 28th, the Ministry of SMEs and Startups held a special meeting on support measures for small and medium-sized enterprises affected by forest fires, chaired by Minister Oh Youngju, and announced comprehensive support measures for the rapid return to normal operations of affected corporations.
According to the support measures, affected companies that received a 'disaster confirmation certificate' from the jurisdictional local government will be provided with emergency management stabilization funds and disaster special guarantees.
Additionally, support for preferential new loans and extensions of existing loan maturities or deferments of repayment will also be provided through the Disaster Response Review Committee chaired by the Vice Minister.
According to the Ministry of SMEs and Startups, as of the previous day, there were 42 reported cases of damage from large forest fires in Gyeongbuk and Gyeongnam, which included 23 cases from small and medium-sized enterprises and 19 from small business owners.
The Korea SMEs and Startups Agency will activate the 'ambulance support system' considering the urgency of recovery from the damages. It plans for professionals to evaluate corporations facing operational difficulties to ensure prompt fund execution.
If small business owners affected by the forest fire wish to close, they will be guided on the Hope Return Package project, which supports business winding-up consulting, store demolition costs, and prompt payment of mutual insurance benefits to 'Yellow Umbrella' insurance subscribers.
The regional agency plans to establish and operate a one-stop support center at the site of the damage in cooperation with local governments if necessary, providing onsite consulting services.
Minister Oh Youngju noted that "this support is just the beginning, and measures for structural disaster prevention and support systems for small and medium-sized enterprises, small business owners, and traditional markets will be established."
After the forest fires are fully extinguished, the Ministry of SMEs and Startups plans to consult with local governments and relevant ministries to prepare additional recovery and revitalization support measures for the affected areas.