80% of loss compensation for small business owners… Maximum compensation of 100 million won

On the 8th, at a store in Myeong-dong, Jung-gu, Seoul, the entrance is chained with a notice to close the business. News 1

The loss compensation ratio for small businesses was determined to be 80%.

On the 8th, the Ministry of SMEs and Startups (Ministry of SMEs and Startups) held the first loss compensation deliberation committee and decided on the compensation standards for the third quarter (July to September). If the notice is issued after a 10-day notice period, it is expected that the application for loss compensation and payment will start from the 27th.

The upper limit of the quarterly compensation is 100 million won and the lower limit is 100,000 won. Compensation for losses will be calculated and paid for each target business site (individual business registration number).

The subject of loss compensation is entertainment/danran pubs, club nights, emotional pubs, hunting pochas, colatec/ballrooms, hold’em pubs/hold’em game rooms, restaurants/cafes, singing practice rooms, direct sales promotion rooms, bathhouses, swimming pools, indoor sports facilities, and private institutes. , movie theaters/performance halls, reading rooms/study cafes, amusement parks, water parks, arcade/multi-rooms, shops/marts/departments, casinos, and PC rooms.

However, in case of violation of quarantine measures, part or all of the compensation before and after the payment of compensation for loss may not be paid or recovered according to the ‘Small Businesses Act’.

In the case of the call center for loss compensation for small businesses, an average of 400 counseling personnel will be put in each day after the day the system is implemented, but 800 to 1,000 people will be deployed for one month from the start of compensation, which is expected to receive concentrated inquiries.

Minister of SMEs and Startups Kwon Chil-seung gives a briefing on the enforcement of the Loss Compensation Act in the briefing room of the Ministry of SMEs and Startups on the 8th. News 1

Minister of SMEs and Startups Kwon Chil-seung said, “The small business loss compensation system is meaningful in that it provides a predictable compensation system for small business owners who have implemented measures to ban gatherings and restrict business hours. It is evaluated as an advanced system that is difficult to find,” he said.

Minister Kwon said, “I am well aware that industries excluded from loss compensation are also experiencing great difficulties.”

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