Ahn Cheol-soo: "Extension of Loan Maturity and Repayment Deferral Needed for Self-Employed and Small Business Owners"

People's Party presidential candidate Ahn Cheol-hoo is giving a greeting speech at a policy meeting held at the Korean Medicine Association in Gangseo-gu, Seoul on the 14th.

Ahn Cheol-soo, the presidential candidate of the People’s Party, on the 15th urged additional loan repayment deferral measures for self-employed individuals and small business owners severely affected by COVID-19.

On the same day, Ahn posted on Facebook, "The burden on small and medium-sized enterprises, self-employed individuals, and small business owners has also increased due to the interest rate hikes," and "I urge financial authorities and the financial sector to make a decisive move to extend loan maturities and implement repayment deferral measures."

He added, "If deferral measures are to be taken, the extended interest rate must apply the pre-increase loan interest rate to have a real effect."

He continued, "The loan maturity extensions and principal and interest repayment deferral policies, implemented three times since the spread of COVID-19, are set to end by the end of March," explaining, "As of September 2021, the total amount reaches 222 trillion won (approximately 900,000 cases)."

He emphasized, "The real economy crisis caused by COVID-19 is a liquidity crisis occurring in the real sector due to decreased sales," and "If the real economy crisis caused by immediate demand reduction and sharp sales decline is not overcome, it could lead to greater financial market instability."

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