Seoul City is giving a big serve this time. The city is set to spend 1 trillion won of the ‘SME Fostering Fund’ on revitalizing the economy for small & medium enterprises, which are leading the economy of ordinary people and creating jobs.
I place top priority on people’s livelihoods, and believe that the economy of ordinary people cannot be revitalized if funds are not provided for small & medium enterprises.
To lessen the interest burden, the base interest rate is to be set at the CD interest rate, which is the lowest rate at present, and the spread, too, is being reduced by 0.8%~1.3%. The ‘SME Fostering Fund’ set up by Seoul City includes a facility fund of 200 billion won, a fund of 20 billion won to support SMEs damaged by disaster, a fund of 30 billion own to support small independent businessmen, a general fund of 744 billion won (for revitalizing the economy and supporting business incubation and job creation), and a special fund (for social enterprises, companies employing many women, and shopping districts in international business districts).
The employment inducement coefficient per 1 billion won is 13.86 jobs, and it is expected that a total of 13,860 jobs will be created through the SME Fostering Fund (worth 1 trillion won) provided by Seoul City.
In 2012, loans amounting to 1,113.5 billion won were recommended in 29,681 cases under the SME Fostering Fund, and the actual value of loans granted amounted to 987.6 billion won for 28,524 cases. To apply for a loan, call Seoul City Credit at Tel. 1577-6119.
I hope that this fund will be of great help to SMEs which are currently suffering from a lack of funds due to the recession.
Seoul City is rooting for small & medium enterprises.
Seoul Mayor Park Won-Soon talking with owners of SMEs