Gyeongnam Bank-Seoul City, Financial Support Agreement for Small Business Owners
[Asia Economy Reporter Kim Min-young] BNK Gyeongnam Bank is partnering with the Seoul Metropolitan Government to provide financial support to small and medium-sized enterprises (SMEs) and small business owners in the Seoul area.
Gyeongnam Bank announced on the 14th that it recently signed an "Agreement on Support for Management Stabilization Funds for SMEs and Small Business Owners" with the Seoul Metropolitan Government.
Under this agreement, Gyeongnam Bank will provide management stabilization funds to SMEs and small business owners recommended by the city.
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The city will offer interest rate support to SMEs and small business owners. For loan amounts of 50 million KRW or less, the interest rate will be reduced by 1.3%, and for amounts exceeding 50 million KRW, it will be reduced by 0.8%.
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