Today, early in the morning, FSC held a meeting to monitor SMEs’ financial condition and to see how loans have been granted to them. The meeting was called early in the morning, at around half past eight. It was held under the chairmanship of FSC’s Vice President Choo Kyung Ho.
The meeting was attended by the representatives of various institutions, including Financial Supervisory Service (FSS), Bank of Korea (BoK), Korea Finance Corporation (KOFC), other related bodies and major banks.
Why all those representatives coming together for this meeting? It would be better for you to know the background to this meeting. As you all know, the real economy is under depression along with vulnerabilities at home and abroad. Under this economic circumstance, SMEs are having difficulty running businesses, finding it hard to finance themselves. If this economic condition continues, situation will become worse and tougher for SMEs.
Acknowledging that the current situation demands effective policy measures, FSC held today’s meeting. Mr. Choo and other representatives discussed the issue, and closely monitored how SMEs managed their businesses so far. If you want to know more details about this meeting, keep your eyes on the follow-up posts!