The Ministry of Small and Medium Enterprises and Startups announced on the 27th that the number of applications for the 'burden relief credit' support program exceeded 2 million in just two weeks. This figure corresponds to approximately 69.1% of the 3.11 million eligible individuals.
The burden relief credit program supports small businesses with annual sales of less than 300 million won by providing up to 500,000 won in credit (digital points) that can be used for utility payments (electricity, gas, water bills) and social insurance contributions. Qualifying small businesses can apply online until Nov. 28. The usage period extends to the end of this year.
On the 24th, 2.15 million applications were submitted, among which 154 support recipients were selected to receive credits totaling 603.3 billion won. Once selected as a support recipient and after completing card registration, the amount will be automatically deducted during utility and insurance payments.
Starting from the 1st of next month, when tax data is finalized, newly established businesses and pre-paid card applicants will also be able to apply for the credit.
Choi Won-young, head of the Small Business Policy Office, said, 'We will ensure thorough management and operation of the system so that small businesses do not face any disruptions in usage,' and noted, 'As the burden relief credit program is running alongside the Biz Plus Card and delivery and shipping cost support, I hope small businesses that meet the eligibility criteria will apply for all three support programs.'