Yoon Ho-jung: "Government Should Consider Extending Loan Maturities and Payment Deferrals for SMEs and Small Business Owners"

[Image source=Yonhap News]

[Asia Economy Reporter Jeon Jinyoung] Yoon Hojung, floor leader of the Democratic Party of Korea, on the 15th urged the government to consider extending loan maturity dates and deferring repayments to alleviate damages suffered by small and medium-sized enterprises (SMEs) and small business owners due to the prolonged COVID-19 pandemic.

During the financial support consultation between the ruling party and government for SMEs and small business owners held at the National Assembly that morning, Floor Leader Yoon said, “Since the COVID-19 situation has not improved yet, we will listen carefully to the urgent voices and openly consider all possibilities such as extending loan maturities and deferring repayments.”

He added, “As I mentioned in the negotiation group representative speech, I requested active consideration of extending loan maturities and deferring repayments for SMEs and small business owners affected by COVID-19,” and stated, “The government plans to support special loans and guarantees worth 19.3 trillion won during the Chuseok holiday.”

He continued, “The first dose vaccination completion for 46 million people promised before Chuseok is also approaching. The ruling party and government will work together on quarantine, livelihood, and economy in preparation for ‘With Corona,’” emphasizing, “Apart from the special committee, the party has already established and decided to operate a ‘With Corona Task Force (TF).”

He concluded, “Both the party and government will pool wisdom and work as one team to help the people overcome the difficulties they are facing and stand up again.”

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