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Busan Metropolitan City and Small Enterprise and Market Service Sign MOU to Provide Comprehensive Support for Small Businesses

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Busan Metropolitan City announced that Mayor Chun Jae-soo will sign an MOU today, September 14, at 11:00 a.m. in the International Protocol Room at Busan City Hall with In Tae-yeon, Chairman of the Small Enterprise and Market Service, to establish a comprehensive support governance framework for small businesses.

Mayor Chun Jae-soo, Chairman In Tae-yeon, and officials from both organizations will attend the signing ceremony, sign the agreement, and pledge mutual cooperation.

The agreement is intended to establish a cooperative framework through which local small businesses can receive the support they need in a more systematic manner by closely linking the small business support policies and programs implemented by Busan Metropolitan City and the Small Enterprise and Market Service.

The two organizations plan to establish a standing communication and cooperation channel between the Small Enterprise and Market Service, which implements central government small business support policies in the field, and Busan Metropolitan City, which carries out policies for local small businesses, thereby strengthening policy coordination and responding promptly to policy needs on the ground.

Under the agreement, the two organizations will link policies and support programs and expand cooperation throughout the entire lifecycle of small businesses, from startup and growth to business stabilization and recovery.

Key areas of cooperation include establishing a comprehensive support governance framework for small businesses and operating communication channels between the organizations; providing policy support throughout the small business lifecycle, including startup, growth, and recovery; establishing a business stability support framework for small businesses; sharing information, providing policy support, and conducting outreach to ease operating burdens such as energy costs; and supporting digital transformation and artificial intelligence transformation.

As an initial step, the two organizations will join forces to ensure the smooth implementation of Busan Metropolitan City’s Small Business Energy Voucher program, which is designed to support local small businesses facing increased operating burdens due to recent rises in energy costs.

The Small Business Energy Voucher program will provide energy vouchers worth KRW 200,000 per recipient in the form of Dongbaekjeon policy support funds to 250,000 small businesses with annual sales of KRW 300 million or less and a place of business in Busan.

The vouchers may be used for vehicle fuel costs, including gasoline, diesel, and LPG. The Small Enterprise and Market Service will cooperate by sharing tailored information needed to implement the program and providing policy support.

Building on this agreement, Busan Metropolitan City plans to continue expanding the scope of its cooperation with the Small Enterprise and Market Service, effectively connect central and municipal small business support policies, and strengthen a cooperative framework linking local policy needs with central government support programs.

The two organizations also plan to maintain regular communication to share challenges and policy needs identified in the field and to continue identifying new cooperative programs aimed at stabilizing small business operations and enhancing competitiveness.

Mayor Chun Jae-soo said, “To ensure that small businesses receive the support they need when they need it, it is important to closely connect central and local policies. Through this agreement, we will further strengthen cooperation with the Small Enterprise and Market Service and build a support system that provides reliable assistance throughout the entire lifecycle of small businesses, from startup and growth to business stabilization and recovery.”