[Photo] MSS to devote US$91.88 mln to help SMEs affected by boycott against Japan

The South Korean Ministry of SMEs and Startups (MSS) has decided to devote 110 billion won (US$91.88 million) to support SMEs who are suffering from the blowback of Japan’s recent export controls and the resulting national boycott campaign against Japanese products. Subsidies are expected to be distributed starting October, the MSS announced on Sept. 30. Businesses in the travel and logistics industries are eligible to receive up to 70 million won (US$58,471) in loans, depending on their losses. Interest will be as low as 0.4%, and businesses will have up to seven years to repay the loans.