BNK Gyeongnam Bank Provides Emergency Financial Support to Companies Affected by Wuhan Pneumonia
On-site Inspection by Branch Manager to Confirm Appropriateness
Interest Rate Reduction up to 1.0%p Within 500 Million KRW
[Asia Economy Yeongnam Reporting Headquarters Reporter Son Tae-seok] BNK Gyeongnam Bank will provide emergency financial support to companies affected by the novel coronavirus (Wuhan pneumonia).
The support targets companies engaged in industries such as tourism, travel, and lodging, as well as companies with export records to China, and eligibility will be confirmed through on-site inspections. Companies confirmed to be affected will receive emergency funds up to 500 million KRW, along with interest rate reductions of up to 1.0%p.
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For existing loans, extensions of maturity and deferment of installment repayments will be provided. In particular, for import-export companies, not only will the maturity of export bills be extended and default processing deferred, but export-import related fees such as interest due to delayed receipt of export payments will be reduced or waived.
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