Seoul Olympic Memorial National Sports Promotion Corporation to push for financial support for the sports industry in 2025

Jan 06, 2025

Image courtesy =Seoul Olympic Memorial National Sports Promotion Foundation

The Seoul Olympic Memorial National Sports Promotion Foundation (Chairman Ha Hyung-joo) will promote the '2025 Sports Industry Financial Support' with the Ministry of Culture, Sports and Tourism (Minister Yoo In-chon). Starting from the 6th, it will provide 241.5 billion won in loans and 103 billion won in secondary preservation (interest difference support) to private sports facility companies, sports equipment producers, and sports service companies. This is the largest financial support ever, allowing more sports companies to benefit.

The Sports Corporation will operate to enable funds to be executed from mid-February through field applications. Loans will be applied to the Ministry of Economy and Finance's Public Fund Management Fund loan account with a quarterly variable interest rate (2.87 percent in the first quarter of this year), and secondary preservation will preserve some interest (2.5%p) of commercial bank interest rates. In particular, from this year, due to the establishment of the secondary preservation preferential interest rate system, 'excellent sports equipment producers' can receive a total of 3.0%p in interest.

It is handled by 13 banks in the market (Gyeongnam, Kookmin, Gwangju, NH Nonghyup, I.M. Bank, Busan, Suhyup, Shinhan, Woori, Jeonbuk, Jeju, SMEs, and KEB Hana), and the repayment conditions are 5 to 10 years for loans and 3 years (temporary repayment) for secondary preservation. The loan fields are facility installation, renovation, and facility investment, and the secondary conservation fields are R&D and operating funds. You can apply through the sports industry support or the Strong Loan website on the website of the Corporation, and for more information, you can inquire through the loan support call center and Kakao Talk 'Tough Loan' channel friend registration.

Chairman Ha Hyung-joo hopes that the policy funding project will serve as a priming water for related companies to take a leap forward in the K-sports industry. In the future, the Sports Corporation will continue to carry out various sports industry financial support projects to actively support small sports companies to overcome financial difficulties" he said.

Meanwhile, the corporation plans to strengthen support, including the formation of a parent fund worth about 50 billion won, to provide timely and intensive investment funds to promising ventures and startups.

This article was translated by Naver AI translator.