Loan Industry Joins Emergency Disaster Relief Fund Donation Effort

[Asia Economy Reporter Minyoung Kim] The lending finance industry has decided to join the government’s emergency disaster relief fund donation campaign.

The Korea Lending Finance Association announced on the 14th that a total of 52 executives, including association executives and executives from 21 major lending companies such as Taegang Daebu, Leadcorp, and Baro Credit Daebu, have agreed to donate their disaster relief funds.

In March, the lending finance industry donated 100 million won to prevent the spread of the novel coronavirus infection (COVID-19) and provided financial support such as loan repayment exemptions and interest payment deferrals for small business owners and self-employed individuals struggling with debt repayment.

Im Seungbo, president of the Lending Finance Association, said, “As all citizens are going through a difficult time due to the spread of COVID-19, we hope this will be of some help,” and added, “We expect that more lending companies will voluntarily participate in donations through this opportunity.”

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