South Korea plans to inject KRW 1.25trn ($1bn) into the maritime sector to help cash-strapped shipowners.
Oceans and fisheries minister Moon Seong-Hyeok said on Thursday that the country will provide firms with more liquidity as they battle disruptions caused by the coronavirus pandemic, according to news agency Yonhap.
“The shipping firms are expected to suffer more serious damage after the second quarter, considering the time lapse between the global economic turmoil and the decline in their performances,” Moon said.
