Korea plans to extend loans to firms with ties to North Kore...| MENAFN.COM

Tuesday, 09 August 2022 10:17 GMT

Korea plans to extend loans to firms with ties to North Korea

(MENAFN) South Korea vowed to extend special low-interest loans to companies that have been in trouble for years amid tensions on the Korean Peninsula, an official and a businessman said Monday, Qatar News Agency reported. Unification Minister Ryoo Kihl-jae made the promise during a rare meeting with several South Korean investors whose businesses with North Korea were suspended in recent years, South Korean news agency (Yonhap) reported. South Korean businessmen involved in projects in North Korea suffered further setbacks in 2010 when Seoul slapped sanctions on Pyongyang over the deadly sinking of a South Korean warship blamed on the North. South Korea has extended special loans worth USD58 million to local companies involved in cross-border projects with North Korea in recent years.

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