FSC Chairman meets with small business owners and holds talks on debt workout supportAug 01, 2024

Chairman Kim Byoung Hwan of the Financial Services Commission held a meeting with a group of small merchants and self-employed business owners to listen to their needs and challenges and have talks on the progress of the debt workout program (called "New Start Fund") specifically set up to help small businesses in the wake of the coronavirus pandemic. At the meeting, Chairman Kim said that it is important to directly engage with small business owners and listen to their needs to be able to draw up more practical and effective solutions for assistance. While taking into account comments gathered from today's meeting, Chairman Kim said that authorities will continue to work on ways to expand and improve the availability of support for small merchants and self-employed business owners. In close coordination with the banking sector and financial institutions in the private sector, Chairman Kim said that authorities will work to draw up additional relief measures for small businesses.