ANNOUNCEMENT 03 Feb 2020

On 3 February 2021, the South Korean Financial Services Commission allocated 4.5 trillion to a loan scheme targeting Korean small and medium businesses. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

South Korean Financial Services Commission (금융위원회). Home. Press. Press releases. "Government Provides Financing Support for SME Facility Investment" of 3 February 2020. Available at:
https://www.fsc.go.kr/eng/pr010101/22292

Inception date: 10 Feb 2020 | Removal date: open ended

State loan

On 3 February 2020, the South Korean Financial Services Commission announced the allocation of KRW 4.5 trillion (USD 3.8 billion) toward a loan scheme that targets small and medium-sized enterprises. The Industrial Bank of Korea, the Korean Development Bank, and the Export-Import Bank of Korea will provide the lending opportunities starting 10 February 2020.

The objective of the scheme is to finance SMEs' initiatives to boost their investments in new facilities. In this context, loans will be provided at a minimum "rate of 1.5 percent for up to 15 years for new facility investments made within this year." It is expected that the investments will significantly contribute to Korea's overall economy.

To view more loan schemes targeting SMEs, please, see related state acts.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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