Culture and Tourism News


The Ministry of Culture, Sports and Tourism announced on the 19th that it will expand the Ministry of Credit Guarantee’s special loan to 130 billion won, the largest scale for small tourism companies, to quickly recover business, and significantly improve financial conditions such as application limit and guarantee review.

The Ministry of Credit Guarantee’s Special Loan is a system that supports necessary funds by providing credit guarantees from public institutions (the Korea Credit Guarantee Foundation) for small and medium-sized tourism companies such as travel and hotel businesses that have been excluded from financial benefits due to their weak collateral.

This special loan from the Ministry of Credit Guarantee will support 130 billion won, the largest amount since 2019, when it was first introduced. In addition, compared to last year’s financial conditions, the application limit is raised from 150 million won to 200 million won, and guarantee screening is omitted for small funds within 20 million won. In particular, for this year alone, various benefits such as a 0.5%p cut in the loan interest rate and 0.2%p in the guarantee handling fee will be provided.

Tourism companies that want to receive special loans can apply for a credit guarantee at 144 branches of the local Credit Guarantee Foundation from the 21st and receive a credit guarantee from 1,138 Nonghyup Bank branch offices. Details and conditions of the special loan can be found on the website of the Ministry of Culture, Sports and Tourism (www.mcst.go.kr).

A policy manager at the Ministry of Culture, Sports and Tourism said, “We hope that the tourism industry will overcome the crisis early and further revitalize its management by strengthening support for small and medium-sized tourism companies such as the travel and hotel businesses that were suffering from severe corona damage but lack of collateral. ” he said.

Reporter Jeon Se-ri [email protected]

previous articletopic of discussion | Joo-Sik Bae, President, Korea Custom Suits Association


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