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MSS, Daegu city and KIBO to provide liquidity injection into SMEs

According to Yonhap News,

The Ministry of SMEs and Startups signed a partnership deal with the city of Daegu and Korea Technology Finance Corporation (KIBO) to provide massive liquidity injection worth KRW 100 billion to calm small businesses hit by the coronavirus crisis in the city.

Raising funds with KIBO, the city government will provides KRW 100 billion worth of reassurance to small business owners who’ve been striving for securing cash to stave off the pandemic-led recession. KIBO will re-evaluate guarantee fees for loans to SMEs.

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Source: Yonhap News (Aug 11, 2020)

** This article was translated from Korean.