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Yoon promises subsidies for small businesses’ electricity and delivery fees

Published: 31 Oct. 2024, 17:19

President Yoon Suk Yeol gives congratulatory remarks at the opening of a small business owners' convention at the Kintex exhibition hall in Goyang, Gyeonggi, on Thursday. [YONHAP]

President Yoon Suk Yeol vowed Thursday to increase state support for small business owners by further subsidizing their electricity bills and introducing subsidies for delivery fees.

Yoon made the promise during a small business owners' convention at the Kintex exhibition hall in Goyang, Gyeonggi, saying such businesspeople form the foundation of the country's economy.

"We are carrying out customized support measures to ease the burden of small business owners, and though the economy is recovering despite difficult conditions, I am well aware of your struggles," he said. "I will make more efforts so that you can feel the warmth of the economic recovery at an early date."

Yoon said the government has earmarked a record-high 5.9 trillion won ($4.28 billion) in next year's budget plan to support small business owners.

He also said the government plans to add an extra 50,000 won to the 200,000 won it offers in electricity bill subsidies for 900,000 small business owners and introduce delivery fee subsidies worth 20 billion won to 680,000 such business owners.

Yonhap