Open to businesses with at least six months of operating history in the district — Dongdaemun-gu subsidizes 1% interest, with an additional 1.8% from Seoul for credit-guarantee-backed loans
Applications accepted from Oct. 22 until funds are exhausted at the Dongdaemun-gu Small Business Support Center
Dongdaemun-gu will begin accepting applications Oct. 22 for its second-half 2026 commercial bank cooperation fund, offering 5 billion won ($3.73 million) in loans to help local small and medium-sized enterprises and small business owners stabilize their operations and ease cash-flow difficulties.
The program is being carried out in partnership with the Seoul Credit Guarantee Foundation's Dongdaemun Center and KB Kookmin Bank. It is designed to help small and medium-sized enterprises and small business owners struggling with a prolonged economic downturn secure the operating funds they need, while subsidizing a portion of loan interest to reduce their financial burden.
Eligible applicants are small and medium-sized enterprises and small business owners with a place of business in Dongdaemun-gu and at least six months of operating history. Each business may apply for a loan of up to 100 million won.
Loans carry a variable bank interest rate, with Dongdaemun-gu covering 1 percentage point of the interest. Businesses that secure loans using a credit guarantee certificate as collateral will receive an additional 1.8 percentage points of interest support from the Seoul Metropolitan Government.
Applications will be accepted from Oct. 22 until funds run out. Interested businesses must visit the Dongdaemun-gu Small Business Support Center in person, located on the third floor at 6 Wangsanno 36-gil.
Further details are available on the Dongdaemun-gu District Office website under the "District News" and "Notices & Announcements" sections. Inquiries about the application process can be directed to the Dongdaemun-gu Small Business Support Center.
"I hope this loan support will ease the interest burden on small and medium-sized enterprises and small business owners facing cash-flow difficulties and help them continue operating on stable footing," Dongdaemun-gu District Mayor Choi Dong-min said. "We will continue to closely monitor the challenges on the ground and provide the support that small and medium-sized enterprises and small business owners — the backbone of the local economy — need."
seouldream01@heraldcorp.com
