President Moon Jae-in has instructed his officials to come up with ways to help small business owners, including lowering credit card service fees and increasing financial assistance. 

Spokesman Kim Eui-kyeom says he ordered expanded tax deductions for small businesses with the annual sales of a billion won or less.
 
Earlier, Financial Services Commission Chairman Choi Jong-ku briefed the president about concerns that secondary loan providers significantly raise loan interest rates when key rates begin to rise.

Moon ordered a strong crackdown on loan sharks and called for measures to mitigate debt burden among lower income groups.