Ko­rea to boost lend­ing for SMEs

The Korea Times - - FINANCE -

Ko­rea will con­tinue its ef­forts to en­cour­age banks and other fi­nan­cial in­sti­tu­tions to di­rect more loans to small and medium-sized en­ter­prises (SMEs), a se­nior fi­nan­cial reg­u­la­tor said Mon­day.

Kim Yong-beom, vice chair­man of the Fi­nan­cial Ser­vices Com­mis­sion (FSC), made the re­marks at a reg­u­lar meet­ing of the Fi­nan­cial Sta­bil­ity Board, which co­or­di­nates at the in­ter­na­tional level the work of na­tional fi­nan­cial au­thor­i­ties around the world, in Switzer­land ear­lier this week.

The out­stand­ing loans for SMEs in South Ko­rea have been on a steady rise, de­spite reg­u­la­tory re­forms, Kim told the meet­ing.

The out­stand­ing loans for SMEs stood at 672 tril­lion won ($600.5 bil­lion) in 2017, com­pared with 599 tril­lion won in 2015 and 512 tril­lion won in 2013, Kim said.

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