ANNOUNCEMENT 22 Jul 2019
July 22nd, 2019 - Korea notified the WTO of a financial subsidy scheme for certain firms.
NUMBER OF INTERVENTIONS
World Trade Organisation, July 22nd, 2019. Subsidies and Countervailing Measures notifications, document G/SCM/N/343/KOR, Chapter VI. I.
On July 22nd, 2019, the Korean delegation to the World Trade Organisation (WTO) included, in a subsidies and countervailing measures notification, information about a financial subsidy programme for certain organisations involved in the 'development of core technology in industrial fields'.
Eligible firms can receive USD 426,000 (KRW 500m) per year for two years under the scheme.
The notification provided figures for the total disbursed in 2017 and 2018, with USD 14.3m (KRW 16.746bn) in the former and USD 9m (KRW 10.574bn) in the latter, for a total of USD 23.2m over the two-year period.
No end date for the scheme was included.
The notification states that recipients can be 'SMEs, universities and research institutions'. This intervention is therefore recorded as targeting the research sector.