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FSC to Step up Support Measures for Exporters Amid Deepening Mideast Crisis
2 Articles
2 Articles
FSC to step up support measures for exporters amid deepening Mideast crisis
The Financial Services Commission (FSC) pledged Monday to increase policy loans aimed at supporting exporters and the sectors hit by the deepening crisis in the Middle East. The financial regulator said it will further increase policy loans currently set at some 24 trillion won ($15.9 billion), depending on the developments in the U.S.-Iran conflict. According to the FSC, major banks plan to provide more than 53 trillion won in new loans for the…
The five major financial holding companies and banks will provide 53 trillion won plus α in support to domestic companies damaged by high oil prices and high exchange rates resulting from the prolonged war between the U.S. and Iran. The government has also decided to release 24.3 trillion won in policy financing. On the 30th, the government held a meeting with the financial sector, presided over by Financial Services Commission Chairman Lee Won-…
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