Recession reports - S Korea to give KRW 700 billion loan guarantees to suppliers
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Tuesday, 20 Jan 2009
Bloomberg reported that South Korea's small sized suppliers in the automobile, steel and computer chip industries will get KRW 700 billion in loan guarantees from their major buyers and banks.
Ministry of knowledge economy said that Hyundai Motor Co, POSCO, Hynix Semiconductor Inc and banks will join the program to help the suppliers struggling with the credit crisis.
(Sourced form www.bloomberg.net)
