SEOUL, Sept. 22 (Korea Bizwire) — Owners of small businesses and self-employed people hit hard by a recent resurgence of the new coronavirus in the country will get financial aid from the government under a new extra budget that passed the National Assembly on Tuesday. The 7.8 trillion-won (US$6.7 billion) extra spending aims to cushion [...]
SEOUL, April 27 (Korea Bizwire) — The state-run Korea Development Bank (KDB) and Export-Import Bank of Korea (Eximbank) said Monday they are considering providing additional financial assistance worth 800 billion won (US$649.8 million) to Doosan Heavy Industries & Construction Co. in the latest move to help normalize the nation’s largest power equipment maker. “We decided [...]
SEOUL, Oct. 10 (Korea Bizwire) – Recent data has shown that the polarization of wealth has grown more apparent for youth as an increasing number of college students are struggling under the burden of student loans, while a chosen few thrive with their inherited fortunes. According to the Korea Student Aid Foundation, 2.51 million college [...]
SEOUL, Sept. 12 (Korea Bizwire) – South Korea rolled out a package of measures Monday to effectively treat and prevent cancer, the leading cause of death in the country, by providing free checkups to heavy smokers and other financial aid to cancer patients in low income brackets, the health ministry said. The comprehensive plan for [...]
SEOUL, Dec. 8 (Korea Bizwire) – STX Offshore & Shipbuilding Co., a midsize local shipyard, is likely to receive financial aid of 450 billion won (US$385 million) from its creditors soon, industry sources said Tuesday. According to the sources, the creditors, led by the state-run Korea Development Bank (KDB), will decide this week on whether [...]