Shinhan Bank Provides 100 Billion KRW Financial Support to SMEs Affected by Flood Damage

[Asia Economy Reporter Kim Hyo-jin] Shinhan Bank announced on the 3rd that it will provide emergency financial support totaling 100 billion KRW to small and medium-sized enterprises and individual customers who have suffered damage due to floods or indirect damage caused by typhoons.

Shinhan Bank will support new loans totaling 80 billion KRW, up to 300 million KRW per company, for small and medium-sized enterprises experiencing difficulties in fund management due to the recent flood damage, and plans to extend maturities and defer installment repayments for affected companies.

Special preferential interest rates of up to 1 percentage point will also be offered for new and extended credit.

Additionally, for individual customers affected by the flood damage, new loans totaling 20 billion KRW will be provided with a limit of 30 million KRW per person.

A Shinhan Bank official said, “Shinhan Bank has promptly decided to provide financial support to offer practical help to customers affected by the recent floods,” and added, “We hope that the affected customers can return to their daily lives as soon as possible.”

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