[Weekly Savings Bank] Donations Continue to Overcome COVID-19

[Asia Economy Reporter Kim Min-young] The savings bank industry is joining forces to overcome the damage caused by the novel coronavirus infection (COVID-19).

◆ Korea Federation of Savings Banks Donates 300 Million KRW

The savings bank industry donated 300 million KRW to the National Disaster Relief Association to support medical staff and vulnerable groups struggling due to COVID-19.

According to the Korea Federation of Savings Banks, 79 savings banks nationwide participated in this donation. To help medical staff and quarantine personnel who are dedicated to preventing the spread of COVID-19 and treating patients, they provided protective suits, masks, and medical supplies. Preventive items such as masks and hand sanitizers were donated to vulnerable groups.

Separately from this joint support, individual savings banks are also continuing donations and medical supply support. Welcome Savings Bank donated 100 million KRW, JT Chin-Ae Savings Bank donated 30 million KRW, and Aequan Savings Bank donated 5,000 masks.

◆ Moa Savings Bank Opens Dedicated COVID-19 Support Counters

Moa Savings Bank announced that it has opened dedicated COVID-19 financial support counters at all branches to provide financial assistance to customers and small business owners struggling due to the spread of COVID-19.

At the dedicated counters, financial support consultations such as maturity extensions, interest rate reductions, interest waivers, and principal and interest repayment deferrals are provided to customers in industries such as food service, lodging, retail, and education, as well as customers in the Daegu and Gyeongbuk regions.

On the 4th, this savings bank also donated 20 million KRW to the National Disaster Relief Association to help prevent the spread of COVID-19 and support rapid recovery in the Daegu and Gyeongbuk regions.

◆ SBI Savings Bank Also Supports Daegu and Gyeongbuk

SBI Savings Bank donated 100 million KRW to the Community Chest of Korea.

This donation will be used to support children and vulnerable groups in the Daegu and Gyeongbuk regions.

SBI Savings Bank is also providing financial support to customers who are confirmed COVID-19 patients or small business owners and small and medium-sized enterprises in the Daegu and Gyeongbuk regions.

For individual loan customers, support includes maturity extensions, deferrals of principal and interest repayments and debt collection, and reductions in overdue interest. For companies, maturity extensions, credit limit increases, and preferential interest rates are offered. Customers with deposit products receive financial support such as exemption from financial fees and application of contracted interest rates for one month after maturity.

◆ OK Savings Bank Volleyball Team Also Donates

The OK Savings Bank Rush & Cash professional volleyball team also donated 20 million KRW to the Community Chest of Korea to help overcome COVID-19.

This fundraising was proposed by head coach Seok Jin-wook, and the players voluntarily participated. Coach Seok said, “We hope our small kindness will help, and we look forward to the day when we can play splendidly again in a gym filled with cheers from fans.”

The volleyball team also donated 5,000 KF94 masks and health supplements to Daegu Kyungpook National University Hospital through the international relief organization Global Share.

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