GS Home Shopping Provides 32.3 Billion KRW Support to Partners Affected by COVID-19

Support for partners facing business difficulties due to COVID-19

Increase of 20 billion KRW in Win-Win Fund, 11 billion KRW interest-free support, 1.1 billion KRW commission refunds

[Asia Economy Reporter Lim Hye-sun] GS Home Shopping announced on the 2nd that it will provide a total of 32.3 billion KRW in funding to small and medium-sized partner companies experiencing production and import disruptions, as well as sluggish sales due to the spread of the novel coronavirus infection (COVID-19).

First, GS Home Shopping will independently secure 11 billion KRW and lend it interest-free to partner companies. This support targets partners directly affected by disruptions in imports or sales caused by COVID-19. Companies headquartered in the Daegu and Gyeongbuk regions will be given priority consideration for support.

Additionally, the Win-Win Fund will be actively utilized. GS Home Shopping increased the existing 70 billion KRW Win-Win Fund by an additional 20 billion KRW, raising the total fund to 90 billion KRW. The Win-Win Fund is a fund established to enable partner companies trading with GS Home Shopping to receive low-interest loans, and it will broadly support partners affected by the spread of COVID-19.

Furthermore, GS Home Shopping has prepared 1.1 billion KRW to directly refund commissions to small-scale partners with poor broadcast sales performance. It will also provide separate support of 250 million KRW for partners requiring consulting for productivity improvement and facility expansion.

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