41 Trillion Won Financial Support for SMEs and Small Business Owners Affected by COVID-19 Since February

[Asia Economy Reporter Kim Hyo-jin] It has been confirmed that approximately 41 trillion won has been supported so far through the government's financial support measures for small business owners and small to medium-sized enterprises affected by the novel coronavirus infection (COVID-19).

According to financial authorities on the 18th, based on various financial support measures prepared since February 7, including the '100 Trillion Won+@ Livelihood and Financial Stability Package Program,' a total of 488,000 cases and 40.9 trillion won in funds have been provided to small business owners affected by COVID-19 as of the 13th of this month.

Among these, new loan and guarantee support amounted to 19.6 trillion won, and maturity extension support for existing loans and guarantees was 19.9 trillion won. In addition, 1.4 trillion won was provided through interest payment deferrals, export-import finance (letters of credit), interest rate and delinquency fee discounts, and other measures.

By institution, policy financial institutions were responsible for 20.8 trillion won in support, while private financial companies provided 20.1 trillion won in support.

By industry, the number of supported cases was highest in the restaurant industry (111,000 cases). Retail (82,000 cases) and wholesale (56,000 cases) followed.

Provided by the Financial Services Commission

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