Good morning everyone. Do you like Disney movies? I’m so into them. Actually, I saw Cinderella about 3 times last week! Yes, I know I am a big fan of it.
I bet all of you guys also have seen it. In that movie, how can Cinderella go to the ball when she has no clothes, carriage, and servants? Yes! You already know the answer. The fairy godmother appears and gives her a big hand.
As like this Cinderella story, corporations need some kind of help in the middle of economic recession. And then who’s going to be a fairy godmother for corporations? That’s government policy measures. The Chairman of FSC, Kim Seok-Dong, announced FSC’s plan to give a hand to corporations suffering from the difficulty of export and investment.
Let me tell you more details of its plan! First, on August 17, ‘Service Center for Corporations’ Financial Difficulties’ opened up. Corporations’ difficulties will be heard at the center, and a possible suggestion will be advised. This center is actually not a new idea, since there was a previous one ‘Service Center for SMEs’ Financial Difficulties.’ By renaming the center and expanding its size, FSC tries to provide more benefits to various corporations. Isn’t it great?
This is not the end of FSC’s plan. By 2014, the FSC will have provided extra financial supports amounting to nearly KRW 13 trillion! This huge fund is to encourage SMEs to invest and export. This support has already begun, and we expect positive influences brought by it.
What else? Hmm.. heavy industries, such as shipbuilding industry, will be given financial support as of this month (September, 2012). This is to give a hand to heavy industries facing difficulties of financing their manufacturing costs. Considering that the manufacturing costs for those industries are very high, this will be a great help. So, from now on, corporations can ask help from either this measure or the previous measure provided by Korea Export-Import Bank. This means that corporations can be benefited from diverse methods offered by different bodies. How amazing!
Today, we have covered FSC’s plan to solve the current difficulty of the export and investment. I wish this plan would support and cheer up many businesses. Let us believe this plan work like a magic in fairy tales.