The Ministry of SMEs and Startups said on the 6th that First Vice Minister No Yong-seok visited KIB, a food and beverage packaging materials manufacturing corporations located in Dalseong County, Daegu, to check the fallout from the Middle East war and discuss support measures.
KIB is a small and medium-sized corporations that produces PET bottles used for food, beverages, and cosmetics. Recently, the burden of management has grown due to raw material supply issues and exchange rate instability stemming from the Middle East war.
KIB CEO Park Han-gyu said, "If the Middle East war drags on, disruptions in raw material supply are a concern," adding, "in particular, the sharp rise in exchange rates is significantly increasing cost pressures."
The Vice Minister said, "We express deep gratitude for your efforts to maintain a stable supply chain as a food and beverage packaging container manufacturer despite the severe external conditions," adding, "the Ministry of SMEs and Startups (MSS) is providing support through the supplementary budget, including 250 billion won in emergency management stabilization funds and 100 billion won in export vouchers, for corporations struggling due to the Middle East war."
He added, "Reflecting on-site opinions, we will improve the perceived impact of policy fund support and will continue to devise additional support measures so that corporations can focus on normalizing management."