Daegu Bank Launches 'COVID-19 100 Billion Inclusive Finance' to Support Manufacturing Companies

[Asia Economy Reporter Kangwook Cho] DGB Daegu Bank announced on the 7th that it will proactively operate a special inclusive finance support program worth 100 billion KRW for small and medium-sized enterprises (SMEs) in the manufacturing sector affected by COVID-19.

This support targets companies with more than 50% of their corporate loans from DGB Daegu Bank (hereinafter referred to as 'main transaction companies') and provides support up to 50 million KRW per company. This follows the 100 billion KRW support announced in early February for companies directly or indirectly affected by COVID-19, and is designed to minimize damage to local companies by providing an additional 100 billion KRW mainly to the manufacturing sector, which is experiencing difficulties due to increased uncertainty.

Eligible companies can receive preferential interest rates at all branches, and the handling criteria have been significantly relaxed, including easing credit evaluations to enable swift financial support. In particular, even if the business location is not in Daegu or Gyeongbuk, main transaction companies of DGB Daegu Bank are eligible for the special support program.

In addition, DGB Daegu Bank operates a comprehensive consultation team for COVID-19 affected companies to support rapid on-site assessments, and is participating responsibly as a leading local company in COVID-19 damage support by establishing a COVID-19 financial support platform in early April to promptly guide customers on various financial support programs.

Kim Tae-oh, President of Daegu Bank, said, "As the COVID-19 situation increases the hardships of local residents and difficulties for local companies, DGB Daegu Bank is making company-wide efforts as a leading local company to revitalize the regional economy," adding, "We will continue to provide active support going forward."

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