The Financial Services Committee of South Korea has announced a massive financing package to mitigate the economic impacts of the Iran war, according to the Korean Broadcasting Service, citing the committee yesterday. Lenders, including the Korea Development Bank and the Korea Export-Import Bank, plan to increase policy loans by 4 trillion won to 24.3 trillion won, with potential for further increases if the crisis continues. Low-interest loans will be provided to low-income households and small businesses, while liquidity support will be offered to the national oil company to help secure crude oil supplies.
