Regulatory Alerts2024-07-29 | 82763Authorities Announce Financial Support Measures for Enterprises Affected by E-commerce Payment Delays
The Financial Services Commission and the Ministry of SMEs and Startups announced coordinated financial support measures to assist vendors affected by payment delays from e-commerce platforms TMON and WeMakePrice. The government will provide up to one year of loan maturity extensions, KRW300 billion in emergency guaranteed loans, KRW200 billion in policy financing, and KRW60 billion in interest rate support for tourism businesses. An emergency response team will be established to ensure these programs are effectively operated and that affected enterprises receive timely assistance.
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