Financial support offered for businesses affected by MERS

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Financial support offered for businesses affected by MERS

The Korea Federation of Banks announced it will offer a financial support package for companies damaged by the outbreak of Middle East respiratory syndrome (MERS).

KB Kookmin Bank, a member of the federation, said it would offer loans of up to 500 million won ($477,507) for each enterprise battered by the virus, totaling 300 billion won.

Woori Bank, another major bank in the country, also announced emergency loans totaling 50 billion won, while Shinhan Bank will provide up to 100 billion won.

Companies that meet the specific requirements can apply for the loans from today.

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