Busan Bank Provides Emergency Financial Support for Recovery from Heavy Rain and Typhoon Damage

Busan Bank Headquarters.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] BNK Busan Bank announced on the 12th that it will provide 'emergency financial support' to small and medium-sized enterprises and individuals in areas affected by heavy rain and typhoons.

First, for the affected small and medium-sized enterprises, it decided to support emergency management stabilization fund loans of up to 500 million KRW per company until the end of October, and for individuals, it will newly provide living stabilization fund loans of up to 50 million KRW.

In addition, when providing new loans, a maximum interest rate reduction of 1.0% will be applied to ease the financial burden on affected small and medium-sized enterprises and individuals.

Loans due for repayment by the end of this year will be extended in full without principal repayment, and installment repayments such as facility fund loans will also be deferred.

Son Dae-jin, Head of Credit Sales Division at Busan Bank, said, “We hope that the emergency financial support will provide practical help for the management and living stability of small and medium-sized enterprises and individuals affected by the damage.”

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