Ministry of SMEs and Startups Implements Special Policy Loan Maturity Extensions for Companies Affected by the TMON-WeMakePrice Crisis
One-year extension of grace period for companies approaching principal repayment
No minimum principal repayment requirement or additional interest charged
The Ministry of SMEs and Startups announced on November 4 that it will grant special extensions of policy loan maturities to support small and medium-sized enterprises affected by the TMON-WeMakePrice crisis.
For companies that received Emergency Management Stabilization Funds through the TMON-WeMakePrice Victim Support Program between September and December 2024, the two-year grace period for principal repayment is ending in stages, and the three-year principal repayment period is approaching. The ministry introduced this special maturity extension to help stabilize the business operations of affected SMEs.
Eligible companies are those that received Emergency Management Stabilization Funds through the 2024 TMON-WeMakePrice Victim Support Program. The special extension applies to loans provided to companies affected by the crisis. Companies with short-term delinquencies of up to 30 days on loans under the SME Policy Fund are also eligible.
Under the special extension, eligible companies can extend the grace period for principal repayment by one year. No minimum principal repayment requirement will apply, and no additional interest rate will be charged for the maturity extension.
Applications will be accepted from November 4 through February 26, 2027. Further details are available on the Korea SMEs and Startups Agency website. For consultations and inquiries, contact a regional headquarters or branch of the agency, or the SME Integrated Call Center at 1357.
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Shim Jaeyun, Director General for Global Growth Policy at the Ministry of SMEs and Startups, said, "We expect this measure to ease the temporary liquidity burden on SMEs affected by the TMON-WeMakePrice crisis and help them restore normal business operations."
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