The government said on the 3rd it will prepare 14.9 trillion won in emergency management funds for small and midsize companies struggling with the strong dollar.
The government plans to use the remaining 13.8 trillion won from the Middle East situation damage corporations policy finance (23.7 trillion won) for small and midsize corporations facing management difficulties due to the strong dollar and other factors. The Middle East situation damage corporations policy finance was used to provide low-interest loans or extend maturities through policy finance institutions such as the Korea Development Bank to corporations harmed by the Middle East war.
In addition, the government will secure 1.1 trillion won in new funds and provide them additionally.
Within the emergency management stabilization funds, a track exclusively for small companies will be created. For small companies whose raw material import ratio is 20% or more of sales, the requirements will be eased so they can receive emergency management stabilization funds even without meeting the conditions for a decline in sales or operating profit (a decrease of 10% or more in sales or operating profit required).
In addition, the government will extend deadlines for paying corporate taxes, value-added taxes, income taxes, and tariff for small companies that struggled with the strong dollar.