Over 60 % of policy loans to be frontloaded in H1

Cars wait to be exported at a port next to Hyundai Motor's manufacturing facility in Ulsan, Feb. 11. Yonhap

Korea's financial regulator said Wednesday that it will instruct policy lenders to implement over 60 percent of their low-interest rate loans aimed at helping to boost corporate investment in the first six months of the year.

So far this year, some 33 trillion won ($22.9 billion) worth of policy loans have been extended by Korea Development Bank, Export-Import Bank of Korea, Industrial Bank of Korea and two other financial institutions, according to the Financial Services Commission (FSC).

The amount marks a 17 percent on-year rise from the same period last year.

The five institutions plan to jack up the amount to some 122 trillion won by April, higher than last year's 109 trillion won.

The move came as Asia's fourth-largest economy is widely expected to suffer headwinds, such as a slump and U.S. tariffs on key items, such as auto and steel. (Yonhap)