FSC’s Countermeasures against Damages from storm and flood


Good morning all.

The powerful typhoon Bolaven lashed Korea yesterday, causing damages and casualties. I hope none of you were affected by the typhoon. However, if you or your friends running SMEs are experiencing any losses due to the typhoon, this blog post will be a helpful tip!

Financial Services Commission released ‘Countermeasures against Damages from storm and flood’ this morning. This response is to provide financial support for SMEs which had been hit by the typhoon and thus incurred damages. The details are as follows;

These measures are in cooperation with other related bodies, including Korea Credit Guarantee Fund, Korea Technology Finance Corporation, Credit Guarantee Fund for Farmers and Fisherman, and Industrial Bank of Korea. FSC is also requesting the financial industries, both banks and insurance companies, to actively cooperate with FSC so as to provide financial assistance for the damaged SMEs.

The best option is not being affected by the typhoon. However, if the typhoon already hit your business and left damages, please do ask help and get supported by FSC’s countermeasures. Well, another typhoon Tembin, though smaller and less powerful, is approaching Korea. Get prepared for it, and be safe!



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