Japanese Government Provides Subsidies to Mask Production Companies... "Doubling Supply Volume"

[Image source=AP Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] On the 13th, the Yomiuri Shimbun reported that the Japanese government has prepared measures to provide subsidies to companies increasing mask production and tourism operators in response to the spread of COVID-19.

According to the report, the Japanese government decided to subsidize part of the facility investment of companies that increased mask production to expand the supply of masks, which have become scarce due to the spread of COVID-19.

The Japanese government is requesting large and small companies to produce masks 24 hours a day, aiming to double the domestic mask supply to more than 600 million units next month compared to last month.

In addition, for companies that inevitably reduce business activities due to the impact of COVID-19, the government plans to support them by utilizing the "Employment Adjustment Subsidy" if they temporarily close while maintaining employment. Yomiuri reported that inns, hotels, and tour bus operators whose reservations from Chinese tourists have been canceled are included as support targets.

The Japanese government has also set an emergency loan limit of 500 billion yen (approximately 5.3655 trillion won) for small and medium-sized enterprises affected by COVID-19.

This content was produced with the assistance of AI translation services.