Small Business Owners ‘Electricity, Gas, Water Rate Support’ to be Implemented from the 22nd of This Month
The basis for supporting public utility charges such as electricity, gas, and water charges for small business owners and the basis for applying for and reviewing long-term installment repayment of small business policy funds have been newly established.
The Ministry of SMEs and Startups announced on the 1st that the Cabinet meeting passed a revision to the Enforcement Decree of the Act on the Protection and Support of Small Business Owners for the specific operation of public utility support for small business owners and that it will be implemented starting on the 22nd.
This revision of the Enforcement Decree stipulates the details of matters delegated by law, such as the Minister of SMEs and Startups’ collection and utilization of tax information on small business owners during disaster relief work, and the standards and methods related to long-term installment repayment of small business policy funds.
First, the scope of public utility fees that small business owners can receive support for is public utility fees according to Article 4, Paragraph 1 of the Price Stabilization Act, and can take into account electricity, gas, and water fees that are essential for the management activities of small business owners.
The amount of support is determined by considering the extent of public utility fee increases and the extent of management burden on small business owners.
The support method is specified as direct payment to small business owners or indirect support methods in which public utility fee imposition agencies deduct the amount of support from public utility fees and impose them.
Next, the Minister of SMEs and Startups may request taxation information and resident registration computer data from the Commissioner of the National Tax Service, the Minister of the Interior and Safety, and heads of local governments in accordance with relevant laws to support small business owners in disaster situations such as COVID-19.
In accordance with this revision of the enforcement decree, the number of employees who have subscribed to the National Health Insurance Service by business registration number, information on affiliated businesses, and monthly credit card payment amounts by credit card affiliated stores can be additionally requested from the Chairman of the National Health Insurance Corporation and the Chairman of the Specialized Credit Finance Association.
In addition, by revising the enforcement decree, the long-term installment repayment of policy funds for small business owners has been stipulated, and in cases where there is a possibility that the ability to repay the loan will increase, a basis for applying for and reviewing long-term installment repayment of policy funds borrowers has been established.
Hwang Young-ho, Director of the Small Business Management Stability Support Team of the Ministry of SMEs and Startups, said, “With this revision of the enforcement decree, we have established a clear basis for public utility support for small business owners and long-term installment repayment of policy funds, so we will implement related policies without a hitch, and in the future, when supporting disasters such as COVID-19, we will execute policies based on accurate data.”
[Editor Lee]
