SEOUL – South Korea will expand financing support for exporting companies by around 50 percent more this year, the financial regulator said on Wednesday, to bolster exports amid persistently weak demand.
The Financial Services Commission (FSC) said it would provide a total of 23 trillion won ($17.2 billion) worth of financial support for exporters through public and private banks from September, along with other measures to ease difficulty in trade financing.
It comes on top of 41 trillion won worth of financial support already provided through policy funds so far this year, the FSC said in a statement.
Specific measures include expanded credit and lower borrowing costs for …
Keep on reading: South Korea to grant $17.2-B financing support for exporters