The majority of South Korea's export-oriented small- and medium-sized enterprises (SMEs) are suffering from worsened profitability due to the Korean won's strength against the US dollar, according to a survey released today.
South Korean banks remained reluctant to make loans to small- and medium-sized enterprises (SMEs) in February despite emerging signs of a recovery in the domestic economy, the central bank said today.
Posco has decided to provide an array of support programs for small- and medium-sized enterprises (SMEs) this year to become a model company and create a win-win partnership with sub-contractors.
The government plans to invest 1 trillion won (US$998m) into fund of funds (FoFs) that will provide money to venture start up companies and help in the creation of new businesses, Minister of Finance and Economy Lee Hun-jai said.
The Korea Credit Bureau, an agency created by 11 Korean financial companies, was officially set up yesterday to help banks judge which customers could be provided loans.
South Korea’s major commercial banks are suffering from overdue loans to households and small- and medium-sized enterprises (SMEs).
A recent study by the Korea Federation of Small and Medium Businesses showed that 58.3 per cent of 310 small- and medium-sized enterprises (SMEs) were having troubles making ends meet.
State-run Export-Import Bank of Korea said Monday it will provide 500 billion won (US$488m) this year to local exporters by purchasing their receivables at a discount as part of the South Korean government's efforts to boost exports.
Eight out of every 10 export-centered small- and medium-sized enterprises (SMEs) have suffered from the rapid appreciation of the Korean won against the US dollar, according to the Industrial Bank of Korea (IBK).
South Korea's trade-related policy bank announced it plans to increase trade financing to won 13.5 trillion (US$13 bn) in 2005 from last year's won 11.5 trillion.
