The Korea Times
The government has reviewed measures to ensure the swift execution of a 10 trillion-won ($6.6 billion) policy financing program prepared to respond to the prolonged conflict in the Middle East, the finance ministry said Monday. The review was conducted during a meeting between officials from the ministry and the state-run Export-Import Bank of Korea (Exim Bank) held Friday amid escalating tensions in the Middle East following U.S.-Israeli strikes on Iran. Exim Bank has expanded the size of its emergency response financing program, originally set at 7 trillion won, to 10 trillion won to support domestic companies affected by the conflict. As of Wednesday, about 20 percent of the target amount had been executed, the ministry said. Exim Bank is also providing support measures for small and medium-sized enterprises affected by the conflict, including loan maturity extensions and repayment deferrals, it added.
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