Financial Sector's Relay Support for Floriculture Farms Struggling Due to COVID-19

Graduation and Entrance Ceremonies Canceled One After Another, Flower Farmers' Sales Plummet... Expansion of Financial Support Including New Loans and Interest Rate Reductions

[Asia Economy Reporter Kwon Haeyoung] The financial sector is holding a series of flower-sharing events to support flower farms struggling due to COVID-19.

According to the financial sector on the 16th, Shinhan Bank is conducting a 'Bouquet Sharing Campaign' in various forms at its branches until the 19th. This is to help flower farms facing difficulties due to a sharp decline in sales as graduation and entrance ceremonies have been consecutively canceled amid concerns over the spread of COVID-19.

Shinhan Bank is carrying out the campaign in various ways, such as the 'Bouquet Relay,' where employees relay flowers to express gratitude to their colleagues, and the 'Rose Gift Event,' where flowers are given to customers visiting branches.

This campaign was initiated based on proposals from the bank's opinion leader groups: the clerk and assistant manager level group 'Young Force' and the manager and deputy general manager level group 'S-Force.'

BNK Busan Bank also held a rose-sharing event for customers on Valentine's Day, the 14th. The 32,000 roses purchased by Busan Bank from 106 stores in the city were delivered to customers through 150 branches in Busan, Ulsan, and the Gyeongnam region.

NH Savings Bank also held an event on the 14th to express gratitude to its customers and, in celebration of Valentine's Day, gifted flower baskets made from flowers grown by local flower farms to all employees instead of chocolates. Going forward, they plan to continue promoting flower consumption by placing flower pots in offices and encouraging employees to incorporate flowers into their daily lives.

Kim Geonyoung, CEO of NH Savings Bank, said, "Due to COVID-19, the economy has contracted, and various events have been canceled, causing a sharp decline in flower consumption and difficulties for flower farms. It is a time when our interest and actions to increase flower consumption are necessary."

Additionally, the financial sector is providing emergency financial support to small and medium-sized enterprises struggling due to COVID-19. Eleven commercial banks are offering new loans and interest rate reductions, while eight specialized card companies support small and medium-sized merchants with interest-free installments, loan interest rate cuts, and deferred credit card payment billing.

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