Democratic Party Announces Support Measures for Small Businesses Ahead of Elections

SEOUL - In a recent press conference, the Democratic Party (DP) unveiled a comprehensive package of campaign pledges designed to bolster small businesses in preparation for the upcoming April elections.

According to Yonhap News Agency, the chief of the party's policy committee, the DP plans to substantially increase government subsidies for business owners who are closing their establishments. Additionally, the party proposes the introduction of a long-term loan program, offering repayment terms of up to 20 years. Efforts to stimulate spending include increasing the allocation for government cash vouchers exclusive to local businesses and extending tax benefits for credit card usage beyond traditional markets. Lee also committed to a significant rise in state funding to aid small business owners with loan interest and other support measures. The announcement was made alongside a meeting between party leader Lee Jae-myung and the Korea Federation of Micro Enterprises, where challenges and policy recommendations from business owners were discussed.

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