Minister of SMEs and Startups Lee So-young stated today (October 7) that she will actively review lowering the interest rates on policy funds supporting Homeplus suppliers and vendors to the level seen during the T몬-W메프 (Timon-Wemakep) crisis.

During the parliamentary audit of the Ministry of SMEs and Startups by the National Assembly's Trade, Industry, Energy, SMEs and Startups Committee, Minister Lee responded to a point raised by Democratic Party lawmaker Kim Won-i that the execution of policy funds for Homeplus suppliers and vendors has been sluggish, saying, "It seems that interest rates are playing a role."

Minister Lee explained, "In the case of Timon and Wemakep, funds were executed at a fixed interest rate of 2.5%, but this time it is in the low-to-mid 3% range, which is likely why the absorption is slow."

She continued by noting that Homeplus partner companies are demanding a rate cut to the level applied during the Timon-Wemakep incident, adding, "We will actively and vigorously review that matter."

However, regarding the difference in interest rates between the Timon-Wemakep crisis and now, she noted, "Changes in the base interest rate situation compared to two years ago also seem to have had an impact."

For small business owners among Homeplus vendors who wish to relocate or close their businesses, separate business recovery support measures will be arranged.

Minister Lee stated, "We plan to create a dedicated Homeplus track within the Hope Return Package to run next year."

The Hope Return Package is a program designed to help small business owners facing management crises or business closures recover quickly by providing comprehensive support, including store demolition, business liquidation, and re-employment or re-startup assistance.

(Photo: Yonhap News)