Seoul's Gangseo-gu, led by District Mayor Jin Kyo-hoon, is bringing financial support services directly to small businesses and self-employed merchants who have struggled to visit financial institutions due to busy work schedules.
The district will operate a "One-Stop Financial Clinic for Small and Medium-Sized Enterprises and Small Business Owners" from Aug. 25 through Sept. 17, aimed at helping financially underserved business owners who have missed out on available support due to complex application procedures or lack of time.
Counseling staff from the Seoul Credit Guarantee Foundation will be stationed on-site at each venue. They will provide detailed guidance on the Hope Finance Special Credit Guarantee program — designed to ease cash-flow difficulties — and handle applications on the spot in a single visit.
Consultations will be held at traditional markets chosen for their accessibility. The schedule runs as follows: Bangsin Traditional Market (Aug. 25), Songhwa Mural Market (Aug. 27), Hwagok Bondong Market (Sept. 1), Hwagok Jungang Market (Sept. 8), Kkachisan Market (Sept. 10) and Nambu Alley Market (Sept. 17).
Each session runs from 10 a.m. to 5 p.m., excluding the lunch hour from noon to 1 p.m. Any small business or self-employed merchant operating in Gangseo-gu may attend without a prior reservation.
Business owners wishing to consult or apply should bring a business registration certificate, the representative's identification, and copies of lease agreements for both the business premises and place of residence. Those who own their business premises or residence outright are not required to submit a lease agreement.
The Hope Finance Special Credit Guarantee program is funded jointly by the Gangseo-gu district office and five financial institutions, with guarantees provided by the Seoul Credit Guarantee Foundation. It offers loans of up to 50 million won ($35,400) to small and medium-sized enterprises and small business owners based in Gangseo-gu. Loan terms extend up to five years in total — including a one-year grace period followed by four years of equal installment repayments — at a low annual interest rate of 2.73 to 2.93 percent.
"We set up this one-stop financial clinic so that busy small business owners can conveniently receive counseling close to where they work," Jin said. "I encourage as many small business owners as possible to visit their nearest traditional market and take advantage of the financial support counseling available."
Further details are available on the Gangseo-gu district office website under the notices and news section. Inquiries may be directed to the district's local economy division or the Seoul Credit Guarantee Foundation.
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