Korea SMEs and Startups Agency (KOSME) Offers Special 1.5% Fixed Rate to Companies Affected in Geoje and Tongyeong

[Financial News] KOSME will provide KRW 100 billion in emergency management stabilization funds to small and medium-sized venture companies struggling with recent exchange-rate fluctuations and disasters.
According to KOSME on the 6th, the emergency management stabilization funds are policy financing designed to support the normalization of operations at small and medium-sized enterprises experiencing temporary management difficulties.
The loan limit is up to KRW 1 billion per company. Loans come with a two-year grace period followed by three years of installment repayments.
Companies affected by exchange-rate fluctuations will receive financing at an interest rate 0.5 percentage points above the policy-fund base rate. Companies affected by the recent torrential rains in Geoje and Tongyeong, which were declared special disaster areas, will qualify for a special fixed interest rate of 1.5%.
Applications can be submitted through the KOSME website.
Kang Seok-jin, president of KOSME, said, "We will do everything possible to ensure that this support serves as a mainstay for small and medium-sized venture companies struggling with exchange-rate fluctuations or disasters."
[email protected] Kim Hyun-chul Reporter