Regulator seeks to double support fund for US tariff-hit sectors

The financial regulator said Wednesday that it will form a 1 trillion-won ($716 million) fund to support key industrial sectors hit by U.S. tariffs. The fund, originally set at 500 billion won, will help marginal firms and those whose financial status worsen in the face of the U.S. tariffs, according to the Financial Services Commission (FSC). Over 60 percent of the fund, to be partly extended by the private sector, will be used to support the automaking, petrochemicals, steelmaking and three other segments, the regulator said. According to the FSC, policy lenders and state-run financial institutions have provided a total of 63 trillion won worth of financial support to the key sectors through August to help them overcome worsening external conditions. The country's five major banks also extended 45 trillion won worth of financial support to those firms that struggle to overcome U.S. tariffs.Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times