SEOUL, Feb. 15 (Korea Bizwire) — The Seoul government and five major banks here plan to provide nearly 76 trillion won (US$56.9 billion) this year to help local businesses invest in new advanced technologies and lower their financial burdens, the financial regulator said Thursday. The move comes amid high interest rates that have placed additional [...]
SEOUL, June 1 (Korea Bizwire) — South Korea’s financial authorities said Thursday they will provide a set of financial support measures to offer interest-free and low-interest loans to victims of a massive home rental scam scandal. Under the support plan, the government will allow the victims to pay back their home rental loans over up [...]
SEOUL, July 15 (Korea Bizwire) — South Korea said Friday it aims to provide policy financing worth 68.3 trillion won (US$51.4 billion) this year to small merchants and other vulnerable people in a bid to help ease the burden of rising borrowing costs. The move is a follow-up to the 125 trillion-won measure that was [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea plans to provide around 40 trillion won (US$33.4 billion) in funds to pandemic-hit self-employed people and small firms in a bid to ease their financial troubles ahead of the Lunar New Year holiday, the country’s finance minister said Thursday. The government said the funds will be fresh [...]
SEOUL, May 4 (Korea Bizwire) — Last December, a mother in her 60s was found dead at her home nearly seven months after she had died, leaving behind a mentally impaired son with no means of support. The tragedy led to a renewed debate over whether family members, even if estranged, should be required to [...]
SEOUL, Jan. 18 (Korea Bizwire) – South Korea’s three major multiplex chain operators said Monday they will provide additional financial support to new movies next month as an inducement strategy to bring weary moviegoers back to cinemas amid the prolonged coronavirus pandemic. In the South Korean film industry, theaters and film distributing companies divide the [...]
SEOUL, Aug. 13 (Korea Bizwire) — Starting from this month, unmarried fathers will be able to receive financial support for child-rearing expenses even before the birth of their child has been registered. Their children will also be able to continue to receive health insurance benefits. The Ministry of Gender Equality and Family unveiled such measures [...]
SEOUL, July 8 (Korea Bizwire) — South Korea on Wednesday pledged to support its arts sector hit by the new coronavirus with 156.9 billion won (US$131 million) during the second half of 2020, including grants to cash-strapped artists and discount coupons for shows and events. The fund is part of the 35.1 trillion-won supplementary budget [...]
SEOUL, June 1 (Korea Bizwire) — Creditors of cash-strapped Doosan Group decided Monday to provide an additional 1.2-trillion-won (US$1 billion) to the conglomerate. Main creditors, such as Korea Development Bank (KDB) and the Export-Import Bank of Korea (Eximbank), said they agreed to give financial support at a meeting held on the day. The creditors have [...]
SEOUL, April 2 (Korea Bizwire) — The South Korean government’s recent plans to give financial support to the virus-hit film industry is drawing mixed views on whether they are effective and realistic enough for theaters and filmmakers to get over the crisis. Earlier this week, the government said it is considering an exemption from charges [...]