[한국사회복지저널] From the end of this month, the government will sequentially provide 68.3 trillion won in policy finance to small business owners and the financially vulnerable.
Deputy Minister of Strategy and Finance Choi Sang-dae made the announcement at the ‘Conference of Finance and Execution Relations Related to People’s Livelihood Stability’ held at the Korea Housing Finance Corporation in Jung-gu, Seoul on the 15th.
At the meeting, the government discussed measures to reduce the burden on the working class and the vulnerable and to improve the sensitivity and effectiveness of policies for people’s livelihood and price stability tasks.
In particular, the current status and future plans of the 2 trillion won financial support budget for the underprivileged for small business owners, young people, and low-credit users, reflected in the second supplementary budget, were reviewed.
First, the government will provide up to 43 trillion won of policy finance to small business owners, such as low-interest repayment loans and debt adjustment, sequentially from the end of this month.
8.7 trillion won will be provided for repayment of low interest rates, 30 trillion won for debt adjustment, and 4.3 trillion won for new guarantees.
The low-interest exchange loan project for low-credit small businesses will start from the end of this month, and the low-interest exchange guarantee project for small businesses affected by COVID-19 will start applying and receiving from September.
The special guarantee for facilities and operating funds for small business owners and the special guarantee for re-startup will also start applying and receiving from the end of this month.
The government will also provide policy finance worth 25.3 trillion won through three types of financial support packages for the vulnerable, such as youth and low-income groups.
The safe conversion loan project (25 trillion won), which converts variable-rate mortgage loans into long-term, low-interest, fixed-rate policy mortgages, will start applying and accepting applications from mid-September.
The Sunshine Loan youth supply expansion project has been running since last month, and the limited-time special guarantee project for the lowest credit will be launched in early October.
At the meeting, Vice Minister Choi said, “Relevant ministries need to do their best to manage the implementation so that the effects of the existing measures for people’s livelihood and price stability can be maximized.”
“The government will put price stability and people’s livelihood first, and will continue to discover high-sensing tasks to minimize the burden on people’s livelihood,” he said.
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