KCCI "Actively Welcomes 50 Trillion Emergency Financial Measures"

[Asia Economy Reporter Dongwoo Lee] The Korea Chamber of Commerce and Industry (KCCI) announced on the 19th that it actively welcomes the government's emergency financial measures following the Emergency Economic Meeting chaired by President Moon Jae-in on the 19th.

In a written statement on the same day, KCCI said, "We welcome the unprecedented and bold support totaling 50 trillion won, with the government, the Bank of Korea, and the entire financial sector working together to extend the maturity of all loan principals, defer interest payments, and stabilize the bond and stock markets."

It added, "This measure is essential to curb the trend of severe sales damage and widespread risk of bankruptcy across all industries caused by the novel coronavirus infection (COVID-19) crisis, which is spreading comprehensively and becoming prolonged."

KCCI urged, "We hope that the government and financial sector will not only swiftly implement these measures at frontline windows but also devote all policy efforts to the recovery of the real economy."

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