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Republic of Korea: Launch of KRW 5 trillion guarantee scheme to help SMEs refinance existing loans with high interest rates

Description

On 29 July 2024, the South Korean Ministry of SMEs and Startups (MSS) announced the launch of a new "conversion guarantee" program with a budget of KRW 5 trillion (USD 3.6 billion). Under the program,...

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Intervention Details

Intervention Type

Loan guarantee

MAST Chapter

L: Subsidies (excl. export subsidies)

Implementation date

31 Jul 2024

Revocation date

No revocation date

Implementation level

National

Affected flow

Inward

Announced as temporary

No

Eligible firms

SMEs

Affected Trading Partners

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Affected Products

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