Gov't to provide US$ 2.3 bil. of customized financial support for self-employed
- 5 years ago
The government will provide around two-point-three billion U.S. dollars in financial support for the self-employed, who account for about a quarter of the nation's total workforce.
According to the Financial Services Commission the plan includes a 1-point-six billion dollar lending fund, which will be created by the Industrial Bank of Korea by the first quarter of next year.
It will loan money to the self-employed at an annual interest rate of around two percent.
Financial authorities will also provide 5-hundred-34 million dollars in guarantees for loans as part of efforts to support small businesses.
According to the Financial Services Commission the plan includes a 1-point-six billion dollar lending fund, which will be created by the Industrial Bank of Korea by the first quarter of next year.
It will loan money to the self-employed at an annual interest rate of around two percent.
Financial authorities will also provide 5-hundred-34 million dollars in guarantees for loans as part of efforts to support small businesses.