South Korea’s fertility rate drops to new low
[Chung Chan-seung] The collapse of trust: South Korea's true health care crisis
[KH Explains] Why doctors refuse to bend despite lack of public support
[Herald Interview] Rival heir to Kim Ju-ae unlikely to appear: unification minister
[KH Explains] What does Apple's dead car project mean for Samsung, Hyundai?
Shinsegae to spend W900b to help small suppliers amid outbreakBy Shin Ji-hye
Published : March 5, 2020 - 13:18
Shinsegae Group is set to provide a total of 900 billion won ($758 million) to help small and medium-sized business partners that are struggling as a result of the new coronavirus outbreak.
Shinsegae Department Store and E-Mart decided to pay about 800 billion won in advance to some 5,000 small and medium-sized suppliers to help them remain stable at a time of plunging sales. Shinsegae TV Shopping also plans to pay its smaller partner companies 25 billion won in advance.
The department store and the retailer also formed the Shared Growth Fund, worth 87 billion won, to facilitate low-interest loans to their small and medium-sized suppliers. The funds will be spent mainly in Daegu and North Gyeongsang Province, areas that together have recorded the majority of confirmed COVID-19 cases in South Korea.
By Shin Ji-hye (email@example.com)
S. Korea, US discuss NK's definition of S. Korea as 'hostile' country
Why doctors refuse to bend despite lack of public support
Cho, Blinken pledge 'watertight' response to any NK provocations