The heaviest snow so far this winter hit most parts of South Korea on Monday, disrupting road traffic and causing flight cancellations. The Korea Meteorological Administration, or KMA, issued a heavy snow alert or warnings for some parts of Gyeonggi Province and the Chungcheong and Jeolla provinces as well as Jeju Island and Ulleungdo. Snowfall hit record levels in many areas as this winter season saw barely any snow until now. Dokdo and Ulleungdo had the most snow in the country with 34.8

The Ministry of Culture, Sports and Tourism on Monday announced that it will inject 50 billion won ($42.3 million) to provide loans without collateral to small and medium-sized companies involved in tourism, following the outbreak of the COVID-19 virus. “We hope that providing prompt and practical emergency financial assistance will help those suffering in the tourism industry due to the spread of COVID-19 recover and revitalize management fast,” ministry official Choi Jae-won sai

Preferential stocks, M&A used to minimize tax while transferring ownership