The government will operate a low-interest loan program for small and medium-sized enterprises (SMEs) suffering or expected to suffer damage from Korea’s trade agreements with foreign countries, the industry ministry said Monday. Under the program, the Ministry of Trade, Industry and Resources will select 30 companies that saw or will likely see their sales or production capacity fall by more than 5 percent from a year earlier due to the implementation of trade agreements with foreign partners, according to ministry officials. Selected companies will be eligible to apply for a loan of up to 7 billion won ($4.6 million) at a 2 percent interest rate. The ministry also plans to provide business consultation services to 20 firms to help them navigate through global trade uncertainties.
