FSC chief vows financial support packages for Mideast crisis-hit firms

The chief of the country's financial regulator said Friday that banks and state-run lenders will provide a set of financial support packages to the Middle East crisis-hit companies to ease their financial burdens and potential liquidity shortage. In a meeting with heads of steelmakers and the sector-related firms, Lee Eog-weon, chairman of the Financial Services Commission (FSC), said policy lenders are set to provide a total of 25.6 trillion won ($17.3 billion) in loans to companies facing troubles in the wake of the Middle East crisis. Banks and other financial companies also have drawn up a support package totaling over 53 trillion won, according to Lee. "We are taking timely measures to help crisis-hit companies overcome liquidity shortages and other troubles," Lee said, adding that the support measures may further increase depending on situations. As to the steelmaking sector, the financial authorities will support their business reorganization and improve their financial status via a 1 trillion-won fund aimed at supporting their business overhaul.Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times