Korean watchdog to allot tech loan quotas to local banks
South Korean Watchdog
Seoul - Yonhap
The financial watchdog is expected to set tech loan quotas for local banks so that they will mandatorily lend to small and mid-sized companies that have high-end technologies but are short of capital to fund their business, financial sources said Monday.
The Financial Services Commission (FSC) last week announced it will push banks and other financial institutions to increase loans to start-up ventures to help boost the nation's economy. It said technology credit bureaus will be established to assess each business idea and technologies.
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