The Small Enterprise and Market Service announced that it will begin accepting applications for the "Small Business Burden Relief Credit" support program from the 14th to ease the burden of public utility payments and the four major insurance premiums for small businesses.
This program provides 500,000 won to be used for payments of public utility fees, such as electricity, gas, and water, as well as the four major insurance premiums, including the National Pension, health insurance, industrial accident insurance, and employment insurance, through credit, debit, or prepaid cards.
Eligible businesses are small enterprises with annual sales exceeding 0 won but less than or equal to 300 million won in 2024 or 2025. The annual sales criteria are based on the sales reported by the small business to the National Tax Service.
Applications can be made from 9 a.m. on July 14 until 6 p.m. on November 28 at the "Burden Relief Credit" website. Only simple information such as the business registration number needs to be entered without any additional submission documents.
To prevent congestion, a five-day system based on the last digit of the business registration number will be implemented from the 14th to the 18th, the initial period of acceptance. On the 14th, small businesses with a registration number ending in 4 or 9 can apply; on the 15th, those ending in 0 or 5; on the 16th, in 1 or 6; on the 17th, in 2 or 7; and on the 18th, in 3 or 8.
The credit will be provided to the card registered at the time of application once verification of eligibility is complete. Eligible card issuers include Kookmin, NongHyup, Lotte, BC, Samsung, Shinhan, Woori, Hana, and Hyundai cards. The issued credit of 500,000 won can be used until December 31 of this year. Any remaining balance after the expiration date will be reclaimed.