The Korea Federation of Banks announced today (the 15th) that it has launched the "Banking Sector Small Business Consulting Support Project," which will provide a total of 1,300 one-on-one consulting sessions to 300 small business owners with annual sales of 100 million won or less.

This initiative is designed to help small business owners overcome difficulties encountered during business operations and maintain stable business activities.

In particular, the project focuses on expanding consulting opportunities for local small business owners who have difficulty accessing professional counseling, and helping young small business owners build a solid business foundation.

To achieve this, the federation plans to select more than 60 percent of all participants from regions outside the capital area or metropolitan cities, or from areas lacking bank consulting centers.

In addition, more than 60 percent of participants will be selected from young small business owners born in or after 1988.

Support will cover five areas: management, branding and design, legal affairs, technology, and digital transformation, with plans to provide practical solutions that can be directly applied to business sites.

The Korea Federation of Banks will select 10 business sites in urgent need of business environment improvements and provide about 6 million won per site in financial support.

All participants will receive a report containing consulting results and management reference materials, and with the participant's consent, follow-up management linked to their primary bank will also be provided.

Applications for consulting can be submitted through Bankit (https://bankit.kr), the social contribution platform of the Korea Federation of Banks.

Cho Yong-bae, Chairman of the Korea Federation of Banks, said, "Since each small business has different industries and management conditions, it is important to find tailored solutions together for each business site," adding, "We hope that the stable growth of businesses run by local and young entrepreneurs will breathe new life into local commercial districts as a whole."

(Photo: Yonhap News)