I am an editorial writer at The Korea Times, focusing on foreign policy, North Korea and domestic politics. My key areas of interest include North Korea, foreign interference in elections, election integrity, cyberattacks and human rights. Prior to joining the Editorial Board, I served as both Politics Desk editor and Culture Desk editor. During my career, I have reported on the Presidential Office under the Lee Myung-bak administration, the Ministry of Foreign Affairs and the National Assembly.
Firms involved in cross-border trade can get loan
Firms, which were involved in inter-Korean trade and suffered from soaring losses after the government imposed sanctions on North Korea after the sinking of the warship Cheonan, can receive emergency relief funds.
The measure came after the owners of the businesses requested the Ministry of Unification lend money from inter-Korean cooperation funds so that they can manage their businesses.
The Small and Medium Business Administration (SMBA) announced the program Tuesday under which the businesses involved in inter-Korean trade are entitled to the loans.
About 210 firms can get the emergency funds. Each firm can borrow up to 1 billion won with the annual interest rates ranging from 4.2 to 5.7 percent.