Saemaeul Geumgo, 9.6 Billion KRW Emergency Loans and 61.3 Billion KRW Repayment Deferrals for COVID-19 Financial Support

On the 9th, Park Cha-hoon, Chairman of the Saemaeul Geumgo Central Association, is presiding over the 'COVID-19 Emergency Situation Countermeasure Meeting' at the Saemaeul Geumgo Central Association Headquarters in Gangnam-gu, Seoul. Photo by Saemaeul Geumgo Central Association

[Asia Economy Reporter Kim Min-young] The National Credit Union Federation of Korea (NACUFOK) announced on the 10th that it held an emergency response meeting related to the novel coronavirus infection (COVID-19).

Presided over by Park Cha-hoon, President of NACUFOK, the meeting took place on the 9th at the NACUFOK Central Headquarters in Samseong-dong, Gangnam-gu, Seoul. About 30 NACUFOK officials and 13 regional headquarters heads and training center directors (regional heads and training center directors participated via video conference) attended.

Since the 24th of last month, the Federation has been operating the ‘COVID-19 Emergency Response Task Force,’ implementing proactive preventive measures such as strengthening quarantine, refraining from events, adjusting education schedules, and conducting distributed work, while also establishing and executing an emergency personnel plan.

Additionally, comprehensive COVID-19 countermeasures are being implemented at the level of local Saemaeul Geumgo nationwide, and to share the difficulties of local communities, emergency financial support has been provided. As of the 9th, 9.6 billion KRW in emergency fund loans and 61.3 billion KRW in repayment deferrals have been supported.

President Park stated, “As COVID-19 expands into a nationwide issue, the inconvenience and suffering of local residents are severe,” and urged, “All employees of the Federation should strive to make Saemaeul Geumgo a safe financial institution that people can trust and do business with.”

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