Top 5 financial groups to provide $68 bil. in funding for tariff-hit firms through 2026

The country’s top five financial holding groups will provide 95 trillion won ($68 billion) for businesses hit by the Trump administration’s tariff policies, mostly in the form of low interest rate loans, assistance in exports and promotion of innovation-led growth, industry officials said Wednesday. The collective move was prompted by continued downside risks from the U.S. tariffs, despite recent trade negotiations. Korea managed to negotiate the blanket tariff to 15 percent on key industrial goods, down from as high as 25 percent. However, more than 400 items, including steel and aluminum, are subject to levies of up to 50 percent. According to the Financial Services Commission (FSC), the country’s top five financial holding groups — KB, Shinhan, Hana, Woori and NH NongHyup — attended a meeting presided over by FSC vice chairman Kwon Dae-young. It was organized to outline a comprehensive financial assistance package to help manufacturers strengthen their fundamentals and weather external shocks. Also in attendance were state-run entities including Korea Development Bank, ExporWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times