Kim Joo-hyun, Financial Services Commission Chairman, "Possibility Remains for Extension of Repayment Deferral for Small Business Owners"

[Asia Economy Reporter Song Hwajeong] Kim Juhyun, Chairman of the Financial Services Commission, hinted at the possibility of extending the maturity extension and repayment deferral measures for loans to small and medium-sized enterprises (SMEs) and small business owners, which are set to expire at the end of September.

On the 5th, after attending the 'Meeting on Financial Issues with SME and Small Business Industry' held at the Foundation for Cooperation between Large, Medium, and Small Enterprises and Agriculture and Fisheries in Jung-gu, Seoul, Chairman Kim told reporters regarding the maturity extension and repayment deferral measures for SMEs and small business owners, "There is still a possibility of extension," adding, "It has not been finalized yet, but during today's meeting, it was mentioned that the situation is very difficult, so we need to take that into account and are considering various measures, including utilizing the New Start Fund." It is known that during the meeting, the SME and small business sectors expressed their desire to extend the maturity extension and repayment deferral measures, which are scheduled to end this month, once more.

Regarding the easing of regulations banning mortgage loans on houses exceeding 1.5 billion won, Chairman Kim said, "I have not received any reports yet, but I think this issue will have to be discussed at some point," adding, "However, when and in what direction the discussion will take place needs to be comprehensively considered, including what kind of signals adjusting the Loan-to-Value ratio (LTV) might send externally."

Concerning the New Start Fund, Chairman Kim explained, "I think it is necessary to check one last time whether there is anything that needs to be changed by reflecting the industry's opinions from today."

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