Gwangju City to Offer Up to 200 Million Won in Interest Support for Businesses

Gwangju City will provide 10 billion won in emergency management stabilization funds to support local small and medium-sized export-import companies struggling with rising raw material prices and logistics costs. A key feature is the expansion of eligibility from export companies with less than 10 years of operation to all export-import SMEs, considering the heightened economic uncertainty stemming from the Middle East situation.

Eligible companies can receive support of up to 200 million won per entity, with Gwangju City covering 2 percentage points of the loan interest to alleviate financial burdens for businesses.

Companies wishing to apply for loans can do so through the website of the Gwangju Economic Promotion Agency for Mutual Growth and Jobs. After review and approval by the agency, companies can proceed with loans from 12 partner commercial banks.

Oh Young-geol, Director of Gwangju City's Economic and Startup Division, expressed hope that this emergency funding would serve as a practical catalyst for improving the management conditions of local businesses.