S. Korean gov't extends loan and interest payments until March 2022 for virus-hit small business owners
Updated: 2021-09-15 13:40:47 KST
The South Korean government is extending the due dates for loans and interest payments for another six months for small business owners impacted by the pandemic.
Chairman of the Financial Services Commission Koh Seung-beom, during a meeting Wednesday with the ruling Democratic Party said payments due on September 30th will be deferred until next March.
These debt relief measures were first introduced in April 2020, just as the pandemic began, and have been extended twice.
The FSC will also provide financial assistance to banks, so they can extend deadlines themselves after the March deadline.