Korea Ceramic Foundation Provides 3 Billion KRW 'Special Guarantee' to Ceramic Artists in Gyeonggi Region

[Asia Economy (Suwon) = Reporter Lee Young-gyu] The Korea Ceramic Foundation will provide special guarantee support to help local ceramic artists struggling due to the "Novel Coronavirus Infection" (COVID-19).

The Korea Ceramic Foundation announced on the 26th that it signed a special guarantee support agreement with the Gyeonggi Credit Guarantee Foundation on the 24th.

According to the agreement, the Korea Ceramic Foundation will make a special contribution of 300 million KRW, and Gyeonggi Credit Guarantee Foundation will guarantee an amount ten times the contribution, totaling 3 billion KRW.

The maximum guarantee amount available to local ceramic artists is up to 10 million KRW per business. The guarantee period is up to 5 years, with an initial 1-year grace period followed by 4 years of equal principal and interest repayments.

The annual interest rate will be applied differentially within approximately 2.8%, depending on the financial institution applied to and the individual's credit rating. For more details, please check the Korea Ceramic Foundation website.

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