Gwangju Bank Signs Business Agreement to Support Inclusive Finance for Small Business Owners

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 14th that it signed a business agreement for inclusive finance support for small business owners with the Korea Foodservice Industry Association Gwangju Metropolitan City Branch (Branch Chief Kim Sang-jae) at the Gwangju Bank Inclusive Finance Center, a specialized consultation window for small business owners, on the 13th to support businesses affected by COVID-19.

According to this business agreement, Gwangju Bank plans to provide free management consulting and education, as well as financial support of up to 30 million KRW per business, to foodservice small business owners affiliated with the Gwangju branch through professional consultants at the Inclusive Finance Center from this month until December.

In particular, Gwangju Bank decided to provide emergency financial support of up to 500 million KRW according to internal regulations after conducting on-site inspections of foodservice businesses affected by COVID-19 to overcome the difficulties of the local economy together.

Any foodservice small business owner affiliated with the Gwangju branch who is experiencing difficulties in business operations due to the spread of COVID-19 can apply through any Gwangju Bank branch or the Korea Foodservice Industry Association Gwangju branch to receive professional management consulting, group education, and financial support.

Jung Chan-am, Vice President of Gwangju Bank, said, “As the spread of COVID-19 has increased anxiety in the local community and worsened the local economic downturn, there are concerns about the damage to our local small business owners and traditional market merchants. Through this inclusive finance support business agreement with the Korea Foodservice Industry Association Gwangju branch, we will spare no effort to provide prompt financial support to help foodservice workers in the frozen alley markets overcome the crisis and minimize the damage to small business owners located in the Gwangju area.”

Meanwhile, the Korea Foodservice Industry Association is the largest domestic foodservice professional organization under the Ministry of Food and Drug Safety (Commissioner Lee Ui-kyung), with 40 branches nationwide and 430,000 foodservice members.

The Gwangju branch has about 15,000 foodservice members in five districts of Gwangju and provides online education for new foodservice entrepreneurs and hygiene education for existing members.

This content was produced with the assistance of AI translation services.