A financing package to limit the repercussions of the war

South Korea’s Financial Services Commission revealed a huge financing package to limit the repercussions of the Iran war on the economy, according to what the South Korean Broadcasting Corporation reported from the commission yesterday.

The donors, which include the Korea Development Bank and the Export-Import Bank, plan to increase policy loans by four trillion won to 24.3 trillion won, with the possibility of an increase if the crisis continues.

Low-interest loans will be provided to low-income families and small businesses, while liquidity support will be provided to the National Oil Company, to help secure crude oil supplies.