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Republic of Korea: Government announces state aid to support SMEs during the 2024 Lunar New Year holiday period

Description

On 5 February 2024, the South Korean Financial Services Commission announced that the Industrial Bank of Korea, a state-owned bank, will provide KRW 3.5 trillion (approx. USD 2.62 billion) in new loan...

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Intervention Details

Intervention Type

State loan

MAST Chapter

L: Subsidies (excl. export subsidies)

Implementation date

05 Feb 2024

Revocation date

27 Feb 2024

Implementation level

NFI

Affected flow

Inward

Announced as temporary

Yes

Eligible firms

SMEs

Affected Trading Partners

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Affected Products

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