Industrial Complex for Small Businesses to Be Built

The Small Business Association of Korea (SBAK) has decided to build an industrial complex which can accomodate 50 small-scale businesses in Ichon, Kyonggi Province.
Next month, SBAK will begin to gather interested small firms who hope to move into the industrial complex. It is going to start building the complex sometime in September and plans to complete construction in the second half of next year.
The cost of construction will be appropriated from the money that participating firms pay in return for moving into the complex as well as financial support from the government.
The SBAK is an interest group that helps small businesses, those under 50 employees, which seldom get backing from the government.
An official at the SBAK said the association plans to activate the complex by drawing upon government support, by which up to 70 percent of construction costs, overall expenses of equipment investment needed by the participating firms will be lent at a low interest rate of 7.5 percent.

Jangsoo Seo:jsbee@joongang.co.kr