DIFFICULTIES SURROUNDING RELIEF FUND

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Despite the government's 100 trillion won economic relief fund, many people are finding it difficult to apply for the funding due to a surge in applications. President Moon Jae-in has met with the chiefs of financial institutions to urge them to provide loans in a proactive and swift manner. He also said neither financial institutions nor individuals will be held responsible for unintentional mishaps in providing or receiving loans.

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​This place is busy providing loan consultations to the self-employed and small business owners. In just ten days, more than 17,000 applications have been received, surpassing 187 billion won in total. The amount of loans in the nation continues to pile up. This week, President Moon Jae-in cancelled his Monday meeting with his aides and instead met with the chiefs of financial institutions. It was his first meeting with the heads of private and policy banks. Comparing finance to medical professionals fighting the virus, Moon said the role of finance officials is now more important than ever.

[Soundbite] PRES. MOON JAE-IN : "Just as the dedication of medical workers saves lives, proactive finance can save corporations and small businesses."

The president also expressed gratitude for the finance sector's cooperation in arranging a 100 trillion won relief fund. He added that small business owners' livelihoods depend on the running of their businesses, stressing the importance of swiftly providing relief funds.

[Soundbite] PRES. MOON JAE-IN : "There may be errors in the lending process. As long as they are unintentional, neither the government nor the financial authorities will hold banks or individuals responsible. I promise you that."

President Moon asked for the finance sector's cooperation as more policies may be needed in the future. However, Cheong Wa Dae has not announced its stance on some calls by political parties to provide disaster relief subsidies to all citizens.