Korea

Chohung launches “Go Together” SME loans programme

The program is aimed at preventing SMEs from falling into insolvency by offering

Small firms to receive less public assistance

The central government announced it will scale back its financial aid to small- and medium-sized companies (SMEs) here, signalling a change in its largely supportive policies for local entrepreneurs since the Asian financial crisis.

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South Korean banks to adopt electronic letters of credit

South Korean banks agreed to participate in local electronic letter of credit services from July to help small- and mid-size firms conduct transactions, said the Ministry of Commerce, Industry and Energy.

At an e-Trade

Basel II accord unlikely to curb S Korean lending to small firms

A new international agreement on banks' capital adequacy is unlikely to sharply cut their lending to smaller companies, South Korea's financial regulator said.

S Korean smaller manufacturers eye better business in second quarter

Business confidence for small- and medium-sized enterprises (SMEs) in South Korea hit a three-year high for the coming quarter, a poll showed, pointing to growing expectations for an economic recovery.

Corporate failures lowest in 15 years

A total of 260 small- and medium-sized enterprises (SMEs) nationwide went bankrupt in February, the lowest level in 15 years, down from 286 corporate failures in January, the Bank of Korea (BOK) announced.

Korea Development Bank to aid small firms

Korea Development Bank, the nation's largest state-owned lender to companies, said it will offer 5000bn won (US$5bn) in loans this year to smaller companies.

EXIM lends US$18m to Swiss shipping firm

The Export-Import Bank of Korea said it has signed a contract with a Swiss shipping company to lend US$188 million to help it purchase container ships from a South Korean shipbuilder.

Banks bad loan ratio falls

Commercial banks have reduced bad loan ratios as they strengthened credit analyses and cut loans to borrowers with low credit standing to stem new bad loans, banks said.

Industrial Bank to increase lending to small firms

Industrial Bank of Korea, the nation's biggest lender to small companies, announced its plans to increase lending to these clients by won 7 tn (US$7bn) this year, amid a recovery in the economy.