SOUTH KOREA

As one of the hardest hit nations from COVID-19, the Korean government launched a robust financial support package for struggling businesses and individuals.

The primary function of the stimulus package was driven through significant loan financing and special guarantees on loans for small and medium-sized enterprises (SMEs) and small businesses. Additionally, loan repayments for SMEs and small businesses have been deferred for at least six months.

Further information on the 50 trillion won support package is available on the Korean Ministry of Economy and Finance Website.