Table of Contents
- Customized Support Policies to Reduce Closure Burden
- Overview of Support Projects
- Eligible Recipients and Qualification Requirements
- Application Method and Procedures
- Consultation and Support Details
- Collaboration between Busan City and the New Start Fund
- Conclusion: Closure is not the End, but a New Beginning
- Frequently Asked Questions (FAQ)
Customized Support Policies to Reduce Closure Burden
Busan City is expanding the "2025 Support Project for Small Business Restructuring Helpers" to assist self-employed individuals and small business owners who are experiencing management difficulties.
This program aims to ease the burden on small businesses by providing financial support for store demolition and restoration costs in collaboration with the New Start Fund and offering free consultation services, enabling them to make a fresh start.
Overview of Support Projects
The Support Project for Restructuring Helpers that will be implemented in 2025 will expand from 100 small businesses last year to 130 this year.
The total budget for this project is 100 million won and is provided through financial support from the New Start Fund. The project will run from March to December 2025.
The support for the 130 small businesses will include the following: First, free business restructuring consultations including tax, legal, and business closure procedures. Second, support for closure costs covering store demolition and restoration (200,000 won per pyeong, up to 4 million won). Third, re-employment support providing job training and employment incentives (500,000 won per person).
Through this support, small business owners can receive comprehensive services related to closure and prepare for a new start.
Eligible Recipients and Qualification Requirements
The eligible recipients are small business owners planning to close their business in Busan. To receive support, they must enter into an agreement with the New Start Fund and those with overdue payments will be excluded. Additionally, support is only available if actual costs for store demolition and restoration are incurred.
Exclusions from support apply to general companies that are not small businesses or those who have already received similar support. Notably, the New Start Fund has been established to help small business owners facing difficulties due to COVID-19 to operate their business normally and make a comeback.
Application Method and Procedures
The application schedule starts from August 18, 2025, and continues until the budget is exhausted.
Applications can be submitted online through the official website of the Busan Comprehensive Support Center for Small Businesses (bsbsc.kr).
The required documents include the business application form, business registration certificate, certificate of business closure, and VAT standard tax certificate, among others.
If selected through the review process, consultation services and cost support will be provided.
Consultation and Support Details
Free consultation services are provided. Guidance on business closure procedures, tax and legal issues, and important points regarding lease termination will be available. Through tailored consultations from experts, it is possible to reduce unnecessary costs and receive safe assistance for the business closure.
Support for store demolition and restoration costs is also available. It can cover actual costs up to 200,000 won per pyeong, and up to 4 million won in total, helping to alleviate the financial burden caused by high demolition costs.
After the business closure, re-employment training will be offered, along with an employment incentive (500,000 won per person) to support a new beginning. These support measures will greatly assist the business owners.
Collaboration between Busan City and the New Start Fund
In April 2024, Busan City signed a "Strengthening Support Agreement for Small Businesses and Self-Employed Individuals" with the New Start Fund Co., Ltd. Through this agreement, new collaborative projects for small businesses will be discovered every year.
In 2024, 250,000 won will be provided for health check-up costs for small businesses, and in 2025, plans are in place to expand the target of the business restructuring helpers program.
This policy is notable not only for supporting closures but also for contributing to the rehabilitation and welfare enhancement of small businesses.
Conclusion: Closure is not the End, but a New Beginning
For small business owners, closure brings significant stress. However, by utilizing the business restructuring helper support program provided by Busan City, they can alleviate the costs associated with store demolition and restoration as well as the difficulties of the closure process. This program also offers free consultation services and re-employment support, providing practical assistance for taking on new challenges after closure.
Small business owners considering closure should apply immediately through the website of Busan Comprehensive Support Center for Small Businesses (bsbsc.kr) to secure stable business restructuring and seize new opportunities.
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Frequently Asked Questions (FAQ)
Q. What are the main contents of the 2025 Busan Small Business Restructuring Helper Support Project?
Busan City will collaborate with the New Start Fund to expand free consultations, closure cost support, and re-employment support.
The 2025 Busan Small Business Restructuring Helper Support Project will provide store demolition and restoration cost support, free business restructuring consultations, re-employment training, and employment incentives through collaboration with the New Start Fund. The project targets 130 small businesses in Busan that are planning to close, offering comprehensive services from tax, legal, and business closure consultations, closure cost support (200,000 won per pyeong up to 4 million won), to training and incentives for re-employment.
Q. What are the eligibility and qualification requirements?
Small business owners planning to close in Busan must enter into an agreement with the New Start Fund and have no overdue payments.
The eligible recipients are small business owners in Busan planning to close, who must enter into an agreement with the New Start Fund Co., Ltd. Those with overdue payments will be excluded. Costs must be incurred directly for business closure, and those who have already received similar support or general companies are not included. The New Start Fund is established to assist small business owners facing challenges due to COVID-19 to restart and operate normally.
Q. How will the application method and procedures be conducted?
From August 18, 2025, applications can be made online through the Busan Small Business Comprehensive Support Center website.
Applications can be submitted online through the official website of the Busan Small Business Comprehensive Support Center (bsbsc.kr) from August 18, 2025, until the budget is exhausted. Required documents include the business application form, business registration certificate, certificate of business closure, VAT standard tax certificate, etc., and those selected through the review process will receive consultation services and cost support.
Q. What consultation services and support are provided by Busan City for business closure?
Free closure consultations, support for demolition and restoration costs, re-employment training, and employment incentives are provided.
Busan City offers professional consultation services on business closure procedures, tax and legal issues, and key points during lease termination for free. Additionally, support for store demolition and restoration costs is available up to 200,000 won per pyeong and up to 4 million won total to help ease the financial burden. After closure, re-employment training and a 500,000 won employment incentive per person will actively support small business owners' new beginnings.
Q. What is the significance of the collaboration between Busan City and the New Start Fund?
A wide range of support activities have been established through a partnership agreement for small business support from closure to recovery.
In April 2024, Busan City signed a "Strengthening Support Agreement for Small Businesses and Self-Employed Individuals" with the New Start Fund Co., Ltd., establishing collaborative projects for small businesses every year. Following support for health check-up costs in 2024, the expansion of the restructuring helper support in 2025 is planned, making it an important collaborative project that contributes to the rehabilitation and improvement of welfare for small businesses beyond merely supporting closures.
