FSC Chairman Koh Seungbeom held a meeting with the heads of financial associations on September 16 and agreed on a six-month extension (until the end of March 2022) of the availability of loan maturity extension and deferment of principal and interest payments for SMEs and small merchants that have been struggling through COVID-19. At the meeting, Chairman Koh and the heads of financial associations also discussed working for an orderly normalization process and laid out specific plans to help both capable and vulnerable debtors with repayment plans tailored to the needs of individual debtors.

* Please see press release for details.