South Korea says will provide financial support for Kaesong firms

Reuters News
Posted: Nov 09, 2017 8:54 PM

SEOUL (Reuters) - South Korea has decided to provide additional financial support for companies that formerly operated at the now shut-down Kaesong industrial complex inside North Korea, the Ministry of Unification said on Friday.

The decision was made to help companies cope with sudden changes in government policy, said Vice Unification Minister Chun Hae-sung in a media briefing.

The ministry said financial support would total 66 billion won ($59.06 million). It was not immediately clear whether the financial aid would be in the form of loans or a cash payout.

(Reporting by Christine Kim; Editing by Shri Navaratnam)