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2017.06.28
| Won | Pyongyang | Sinuiju | Hyesan |
|---|---|---|---|
| Exchange Rate | 8,070 | 8,050 | 8,095 |
| Rice Price | 5,800 | 6,000 | 5,900 |
The South Korean government has agreed to provide 300 billion KRW ($272 million) in direct emergency financial support for firms left stranded by the ongoing political impasse surrounding the Kaesong Industrial Complex (KIC).
"The money, which is to be offered in the form of preferential low-interest loans, aims to help businesses cover immediate liquidity problems caused by the suspension of operations at the Kaesong Industrial Complex," Seo Ho, the director of the Ministry of Unification team charged with overseeing support for inter-Korean economic exchange zones, told a press conference in Seoul earlier today.
The government will initially release 63 billion KRW in special loans at an interest rate of 2%, Seo said.
Meanwhile, private financial institutions such as Woori Bank (100 billion KRW), Industrial Bank of Korea (100 billion KRW), and the semi-state credit support agency Korea Eximbank (300 billion KRW) are also to offer support to KIC-based companies, it has been revealed. Loans from Korea Eximbank are to be made available as of May 6th.
"The money, which is to be offered in the form of preferential low-interest loans, aims to help businesses cover immediate liquidity problems caused by the suspension of operations at the Kaesong Industrial Complex," Seo Ho, the director of the Ministry of Unification team charged with overseeing support for inter-Korean economic exchange zones, told a press conference in Seoul earlier today.
The government will initially release 63 billion KRW in special loans at an interest rate of 2%, Seo said.
Meanwhile, private financial institutions such as Woori Bank (100 billion KRW), Industrial Bank of Korea (100 billion KRW), and the semi-state credit support agency Korea Eximbank (300 billion KRW) are also to offer support to KIC-based companies, it has been revealed. Loans from Korea Eximbank are to be made available as of May 6th.
