The logo of Hyundai Motor is seen on the steering wheel of a Sonata sedan car during its unveiling
FILE PHOTO – The logo of Hyundai Motor is seen on the steering wheel of a Sonata sedan car during its unveiling ceremony in Seoul, South Korea, March 8, 2017. REUTERS/Kim Hong-Ji

SEOUL: South Korea plans a policy package to support its troubled car parts makers industry that includes providing financial support worth over 3.5 trillion won (US$3.10 billion), the government said on Tuesday (Dec 18).

As part of its efforts to provide liquidity, South Korea will launch a new credit guarantee program for bonds worth 1 trillion won (US$884.96 million) issued by the suppliers, using contributions from the government and car makers, the industry ministry said in a statement.

And the government plans to extend…