S. Korea to offer debt relief to small biz owners hit by COVID-19 pandemic

South Korea will offer a debt relief program for small business owners hit by the COVID-19 pandemic to help improve their financial health, the finance ministry said Friday, amid concerns that they could face heavier debt-servicing burdens following recent rate hikes.

Finance Minister Koo Yun-cheol announced the measures during a meeting with relevant ministers, after the Bank of Korea raised its benchmark rate by 0.25 percentage point for the second consecutive meeting the previous day to curb