The Bank of Korea Supports SMEs Affected by Typhoon 'Hinnamno' Secondary Damage

[Asia Economy Reporter Seo So-jeong] The Bank of Korea announced on the 19th that it will additionally support small and medium-sized enterprises (including small business owners and self-employed individuals) that suffer indirect damage due to the flooding of POSCO facilities, in addition to SMEs affected by Typhoon 'Hinnamnor'.

The operation method of the financial intermediary support loan limit reserve (50 billion KRW) already allocated to the Pohang headquarters will also be changed.

The scope of financial support will include SMEs experiencing difficulties due to delays in the normalization of POSCO's production processes (such as companies that have supplied or provided services to POSCO in the past two years), and the loan handling period by banks will be extended from the end of October to the end of December this year.

Other operational methods such as support limits, interest rates, and support ratios remain the same as the support plan announced on the 7th.

The Bank of Korea will actively consider additional support if necessary by reviewing the additional damage situation and the loan demand of affected SMEs.

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