By Lee Haye-ah
SEOUL, Nov. 3 (Yonhap) — President Yoon Suk Yeol pledged Friday to provide greater assistance to small business owners by offering low-interest loans and exempting them from having to pay back pandemic handouts.
Yoon made the remark while attending a gathering of small business owners at the KINTEX exhibition hall in Goyang, just northwest of Seoul, which brought together about 2,000 people from various industries, including restaurants and hairdressers.
Yoon said his aides and staff recently made numerous field visits to search for ways to alleviate people’s difficulties, while his administration allocated 4 trillion won (US$3 billion) in next year’s budget to fund low-interest loans.
He also promised to waive 800 billion won in repayments of advance payments given to small business owners and self-employed people during the COVID-19 pandemic.
The decision was declared earlier this week following a meeting between the government, the presidential office and the ruling People Power Party, as existing laws require the relief money to be returned in the event of an increase in sales.
Yoon also said the government will allow gas bills to be paid in installments and help with the replacement of 64,000 worn-down air conditioning and heating units.
Yoon was the first president to attend the event which marked its 18th year this year, according to his office.
President Yoon Suk Yeol (L) visits a booth at the small business owners' convention at the KINTEX exhibition hall in Goyang, just northwest of Seoul, on Nov. 3, 2023. (Yonhap)
hague@yna.co.kr
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