Live Savings Bank Donates 100 Million Won to COVID-19 Affected Areas

[Asia Economy Reporter Jang Hyowon] Live Savings Bank announced on the 17th that it will donate 100 million won to support social efforts to overcome the COVID-19 crisis. This is the second donation since participating in the joint donation of 300 million won through the Korea Federation of Savings Banks to the National Disaster Relief Association on the 2nd.

The COVID-19 support fund will be used through the Hope Bridge National Disaster Relief Association to provide protective suits, food kits, masks, hand sanitizers, and other supplies to medical staff, volunteers, and disaster-vulnerable groups in Daegu Metropolitan City, which has been designated as a special infection control area.

In addition, Live Savings Bank will provide financial support such as extending the maturity of existing loans, lowering interest rates, and deferring principal and interest repayments to small and medium-sized enterprises and individual customers who have suffered or are expected to suffer direct or indirect damage from COVID-19.

For deposit customers, to protect customers and participate in preventing the spread of COVID-19, even if the maturity of savings products arrives, the bank will apply the 'regular deposit announced interest rate as of the maturity date' instead of the 'post-maturity deposit interest rate' for one month after maturity.

Live Savings Bank changed its name from Sambo Savings Bank to Live Savings Bank on August 22 last year, and to promote customer-friendly operations, it relocated its headquarters on September 16 of the same year from Bongcheon-dong, Gwanak-gu, Seoul, to Liveplex Tower on the main road at the Seoul Customs Intersection in Nonhyeon-dong, Gangnam-gu, an area with high geographic recognition, and has been conducting full-scale operations since then.

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