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| ▲ In this undated filed photo, signs promoting the use of "consumption coupons" are hung at the Mangwon traditional market in western Seoul. The government is distributing the first round of consumption coupons to the public from July 21, 2025, to Sept. 12 to boost domestic spending. (Yonhap) |
small merchants-financial support
Policy banks to provide 10 tln won in financial support for small merchants
SEOUL, Sept. 4 (Yonhap) -- The financial regulator said Thursday that policy lenders will provide 10 trillion won (US$7.2 billion) worth of financial support to small merchants amid economic challenges and rising debt burdens.
The Financial Services Commission (FSC) said commercial lenders will also join such a move by providing a total of 3.3 trillion won in financial support.
The regulator said the support measures will help sharply reduce the financial burdens of small merchants.
Private spending has recently shown signs of recovery, backed by the ease in political instability, and exports have outperformed expectations on strong semiconductor shipments.
But many small-sized merchants continue to struggle with a fall in sales and growing debt burdens, the FSC noted.
In July, the government distributed its first round of cash handouts worth 150,000 won to all citizens in a bid to boost the local economy.
The government is planning a second round with an additional 100,000 won to the bottom 90 percent of income earners.
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