The central bank said Friday it will extend a financial support program for small and medium-sized enterprises (SMEs) and self-employed workers amid a sluggish recovery in vulnerable sectors of the economy. The Bank of Korea's (BOK) low-rate special loan program worth 14 trillion won ($9.51 billion) was set to expire this month, but it will be extended by six months through the end of July, according to the bank officials. Under the program, the central bank allocates 75 percent of its SME loan volumes at a preferential interest rate of 1 percent. The scheme was launched in January 2024 with a cap of 9 trillion won, which was raised to 14 trillion won in January last year. "While an economic recovery has continued on the back of a rebound in consumption and rising exports, the recovery of vulnerable sectors, including regional SMEs and the self-employed, has been lagging," the BOK said. "The extension is expected to improve SMEs' access to financing and help ease their financial cost burdens," it added.