Hong Nam-ki: "All Allocated Budgets, Funds, and Contingency Funds Will Be Fully Mobilized to Support Small Business Owners" (Update)

[Image source=Yonhap News]

[Sejong=Asia Economy Reporter Kim Hyunjung] Hong Nam-ki, Deputy Prime Minister and Minister of Economy and Finance, announced on the 16th that he will mobilize all available funds, including the existing budget, various funds, and contingency funds, to intensively support small business owners affected by strengthened quarantine measures.

On the morning of the 16th, Deputy Prime Minister Hong presided over the 50th Emergency Economic Central Countermeasures Headquarters meeting at the Government Seoul Office and said, "The government will prioritize the implementation of special year-end and New Year quarantine measures, focus on supporting small business owners and others affected, and devote all efforts to maximizing economic resilience within the scope of quarantine."

He added, "There are great concerns about the downturn in domestic demand caused by the pause in phased daily recovery, but the urgent need for strict quarantine control comes first," and explained, "Regarding support for small business owners, we will mobilize the existing budget, various funds, and contingency funds to provide quarantine support payments, expand compensation for losses, and offer ultra-low interest loans, providing multi-layered maximum support."

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