Policy-Fund Repayment Burden on TMON-Wemakeprice-Affected Businesses to Be Eased Through Tailored Debt Adjustment

[Financial News] The government will implement a tailored debt adjustment program to ease the policy-fund repayment burden of businesses affected by the TMON-Wemakeprice incident.
 According to the Ministry of SMEs and Startups on the 22nd, the government provided emergency management stabilization funds to small and midsize enterprises and small business owners who faced financial difficulties after failing to receive settlement payments for their sales during the TMON-Wemakeprice incident. The ministry has decided to provide additional support as these businesses continue to face management difficulties despite the arrival of their policy-fund repayment deadlines.
 For borrowers making regular repayments, the government plans to ease their principal-and-interest burden through the Korea SMEs and Startups Agency (KOSME) and the Small Enterprise and Market Service's own debt adjustment programs. Delinquent borrowers will be linked to external debt adjustment programs, including the Saechulbal Fund, allowing them to receive principal adjustments and reductions in interest and overdue interest.
 For example, the Small Enterprise and Market Service will extend repayment periods by up to seven years for small business owners experiencing temporary management difficulties who are either making regular repayments or have been delinquent for 30 days or less. Closed-business owners who have transitioned to wage employment will also receive a 0.5-percentage-point interest-rate reduction after one year of continuous employment.
 KOSME and the Small Enterprise and Market Service plan to continue informing affected businesses whose policy-fund repayment deadlines are approaching about the debt adjustment programs available to them.
 No Yongseok, First Vice Minister of SMEs and Startups, said, "We will ensure that businesses affected by the TMON-Wemakeprice incident do not face further difficulties because of policy-fund repayments," adding, "We will actively guide and support them toward debt adjustment programs suited to each company's repayment conditions, easing their repayment burden and supporting a return to normal operations."
[email protected] Kim Hyun-chul Reporter