South Korea Unveils 14.9 Trillion Won Emergency Funding Package for Businesses Hit by Weak Currency

Deep News

07/03

South Korea's Ministry of Economy and Finance announced on Friday that it will provide 14.9 trillion won (approximately $97 billion) in emergency financing to small and medium-sized enterprises (SMEs) struggling with mounting business pressures due to the weakness of the Korean won.

Finance Minister Kyu-Yeol Koo highlighted the persistent volatility in foreign exchange and financial markets, noting that challenges for people's livelihoods remain, with consumer prices rising 3.2% in June.

He made these remarks during an emergency economic meeting held on Friday.

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