Vice Chairman Kwon Dae-young of the Financial Services Commission met with officials from the Korea Federation of Micro Enterprises, policy financial institutions, and the banking sector to discuss financial support programs for small businesses on September 4. At the meeting, new financing programs worth KRW10 trillion were introduced to help small businesses in various challenging situations. The banking sector also announced a plan to supply KRW3.3 trillion worth of new financing program for small merchants with the potential to improve their competitiveness. In addition, officials at the meeting also introduced three specific programs designed to help lower the cost of financing for small merchants. Speaking about the importance of maintaining close communication on the ground, FSC Vice Chairman Kwon pledged to closely follow up on the progress of these support programs.