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61.5% of companies “Payment of New Year’s bonus this year”… Financial sector to supply 36.8 trillion won of new funds during the Lunar New Year holidays

According to the ‘2022 Lunar New Year Holiday Status Survey’ released on the 23rd by the Korea Employers’ Federation of 512 companies with 5 or more employees nationwide, 61.9% of companies answered that they plan to pay a New Year’s bonus this year, compared with 63.5% last year (63.5%). ) was slightly reduced compared to The proportion of companies paying bonuses was higher in large companies with 300 or more employees (68%) than in companies with fewer than 300 employees (60.9%). 91% of the respondents answered that the size of the bonus was ‘the same as last year’, accounting for almost all of them. 4.7% of the respondents answered ‘paying less than last year’ and 4.3% of companies saying ‘paying more than last year’. The answer was 4.3%.

There were many negative responses to this year’s Lunar New Year game situation. 53.9% of the total responding companies rated it as ‘same as the previous year’ and 36.3% ‘worse’. Only 9.8% answered that the economic situation had improved.

As the Lunar New Year holiday continues from Saturday (29th), 73.7% of companies that are taking the Lunar New Year holiday were found to take five days off. Those with less than four days accounted for 13.4%, and those with more than six days accounted for 13.0%.

Financial authorities announced that they would expand financial support for small businesses and SMEs during the Lunar New Year holiday.

The financial sector decided to supply about 36.8 trillion won in new funds before and after the Lunar New Year holidays to meet the holiday fund demand of small businesses and small and medium-sized enterprises (SMEs).

Policy financial institutions will preemptively support new loans and guarantees worth a total of 4.5 trillion won. IBK will provide a total of 3 trillion won in loans, Korea Development Bank will provide a total of 800 billion won, and the Korea Credit Guarantee Fund will provide a total of 700 billion won of guarantees. Banks also decided to supply about 32.3 trillion won in new loans before and after the Lunar New Year holiday.

The government is also planning to introduce a total of 10 trillion won in the ‘Hope Loan Plus’ program, an ultra-low interest rate loan, to support the recovery of damage accumulated by small businesses due to the recently strengthened distancing measures. Companies that have received the quarantine subsidy for small businesses can receive up to 10 million won (based on representatives) at an ultra-low interest rate of 1-1.5% depending on their creditworthiness.

Small and medium-sized card merchants receive merchant payments three days in advance. If the loan maturity date, credit card payment date, or automatic utility payment date arrive during the Lunar New Year holiday, it will be automatically postponed to after the holiday (February 3).

If the payment date for a housing pension or deposit arrives during the Lunar New Year holiday, it can be paid in advance just before the holiday (January 28). For urgent financial transactions, mobile and flexible stores are operated in highway rest areas, airports, and areas where foreign workers are concentrated.

In preparation for security breaches during the Lunar New Year holiday, the government also maintains a rapid response system between ‘financial authorities-Financial Security Agency (integrated security control center)-financial companies’.

[ⓒ 세계일보 & Segye.com, 무단전재 및 재배포 금지]