Photo : YONHAP News
The government said it is prepared to provide a maximum two trillion won in emergency financial aid for domestic businesses that could be adversely affected by the Russian invasion of Ukraine.
At a meeting to review market conditions on Friday, Financial Services Commission(FSC) Chairman Koh Seung-beom pledged to closely inspect the scope of damage and monitor the financial conditions of local importers and exporters.
The chairman assessed that market uncertainties had expanded at home and abroad following developments surrounding Ukraine the previous day.
Koh called for a swift response to the ripple effect from global austerity and other external risks stemming from the Ukraine crisis, seeking to prevent it from extending long term.
The Korea Center for International Finance(KCIF) has also pledged to enhance the monitoring of global markets for a possible hike in raw material prices and an expansion of market volatility.
Gov’t Prepared to Provide Max. 2 Tln Won in Aid for Local Businesses amid Ukraine Crisis
Source: Matira Matibay
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