From 3 pm on the 30th, the government has sequentially paid up to 10 million won in compensation for losses to small business owners who have been affected by the new coronavirus infection (COVID-19) quarantine measures.
On the afternoon of the same day, in the self-employed community such as Naver Cafe ‘I’m the boss because I’m sick’, one after another authentication posts were posted saying that they had received compensation for their losses.
The small business loss compensation is the Yun Seok-yeol government’s small business policy designed to compensate for the direct and indirect damage accumulated by the COVID-19 quarantine measures over the past two years.
The size is 23 trillion won, equivalent to 73% of the total amount of disaster aid for small businesses paid out seven times since the COVID-19 crisis. A total of 3.71 million businesses will be compensated for losses of 6-10 million won.
The target of support is small businesses and small businesses that opened before December 15 of last year and were operating as of December 31 of the same year, but whose sales have decreased, or medium-sized enterprises with annual sales of more than 1 billion won and less than 5 billion won.
Restaurants, cafes, private academies, and indoor sports facilities with annual sales of more than 3 billion won and less than 5 billion won, which have not been covered by the disaster subsidy, are newly included this time.
Whether or not sales will decrease is judged based on the annual or semiannual VAT reported sales in 2020 or 2021 compared to 2019 and 2021 compared to 2020.
If it is not possible to judge a decrease in annual or semi-annual sales based on the reported sales for VAT, compare the semi-annual or monthly average sales using taxation infrastructure data.
Even if you receive the first and second quarantine subsidies according to these standards, you cannot be eligible for payment if you do not meet the sales reduction criteria for loss compensation.
However, among the businesses that received the first and second quarantine subsidies, the basic amount of 6 million won will be paid to businesses that have implemented quarantine measures such as business hours restrictions after August 16, 2020, as they are restricted from normal business.
The application period is about two months from 12 noon on the 30th to the 29th of July.
From 12 noon on the same day, the Ministry of SMEs and Startups sent out text messages to some expedited payment recipients. A text message was sent today to 1.61 million companies with an even number at the end of the business registration number, and will be sent on the 31st to 1.62 million companies with an odd number.
The odd-even system will be held for only two days until the 31st. From the 1st of the following month, applications can be made without discrimination. As of 1 p.m. that day, 41.7% of 1.61 million companies applied for loss compensation.
You can apply for the loss compensation website (small business loss compensation.kr). Available 24 hours a day, regardless of weekends and holidays.
There is also a way to access the loss compensation website by searching for ‘small business loss compensation’ or ‘loss compensation’ on the portal site (Naver, Daum).
News 1Those eligible for expedited payment can complete the application by entering the business registration number, identity verification, and transfer account input.
The recipient of confirmation payment must additionally attach separate documents such as a power of attorney for the co-representative.
For more information, check the notice on the loss compensation website (small business loss compensation.kr) or the Ministry of SMEs and Startups website (www.mss.go.kr). You can also check through the telephone counseling center dedicated to loss compensation (call center 1533-0100, 9:00 to 18:00 on weekdays).
Minister of SMEs and Startups Lee Young said, “With the efforts and hard work of the Ministry of SMEs and Startups and the Small Business Market Promotion Agency, the payment of compensation for losses is proceeding smoothly.”
Reporter Jeong Bong-oh Donga.com bong087@donga.com
