South Korea MOLIT: USD2.7bn in emergency support provided for airlines so far

28 August, 2020

South Korea's Ministry of Land, Infrastructure and Transport (MOLIT) reported (27-Aug-2020) it has so far provided emergency liquidity funds of KRW2.9 trillion (USD2.4 billion) to large airlines such as Korean Air and Asiana Airlines, and loans worth KRW300 billion (USD252.6 million) to major LCCs such as Jeju Air, Jin Air, T-Way Air, Air Busan and Air Seoul. In addition, the MOLIT has designated air transportation and ground operations as special employment support industries and supported employment maintenance subsidies to minimise employment insecurity. [more - original PR - Korean]