Announcement
03 Mar 2021
On 3 March 2021, the South Korean Ministry of Economy and Finance announced various support measures as a result of COVID-19.
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Number of interventions
2
2 certainly harmful
0 likely harmful
0 liberalising
List of interventions
Implementation date
03 Mar 2021
Revocation date:
No revocation date
Announced: 03 Mar 2021
Loan guarantee
In force
On 3 March 2021, the Ministry for SMEs and Startups allocated KRW 2 trillion (USD 1.7 billion) in loan guarantees for Korean small and medium-sized businesses to help them digitalize their operations....
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Implementation date
31 Dec 2020
Revocation date:
30 Jun 2021
Announced: 03 Mar 2021
Tax or social insurance relief
In December 2020, the South Korean Ministery of Land, Infrastructure, and Transportation announced that KRW 45.7 billion (USD 38.5 million) would be reserved toward an existing scheme which supports t...
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Related State Acts
Announced: 29 Oct 2021
Republic of Korea: KODIT allocates KRW 570 billion to SMEs
Announced: 01 Feb 2021
Republic of Korea: Government allocates KRW 12.8 trillion to SME loan scheme
Announced: 22 Sep 2020
Republic of Korea: Fourth supplementary budget announced; including $3.4bn of commercial support
Announced: 09 Apr 2020
Republic of Korea: MOEF announces more measures to help businesses overcome COVID-19 fallout
Announced: 19 Mar 2020
Republic of Korea: $42.1bn COVID-19 'Financial Support Package' announced by several ministries
Announced: 18 Mar 2020
Republic of Korea: MOEF holds first 'Crisis Management Policy' meeting, announces several support measures
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