June 21, 2007	Thursday	Jamadi-us-Sani 05, 1428

SEOUL, June 20: South Korea's government offered on Wednesday to set up a $1.08bn fund to help small and medium-sized firms with high technology. Finance Minister Kwon O-Kyu did not say when the $1.08 billion fund would be set up but promised to create a better business environment for small firms.

“The government decided to create the fund aimed at supporting small- and medium-sized companies with high technology,” he said at a meeting of businessmen.

Business groups have urged the government to improve unfavourable market conditions but in response, the government has struggled to boost corporate capital spending. —AFP