The Korea Federation of Banks Donates 100 Million KRW for Heavy Rain Damage Relief Fund

[Asia Economy Reporter Kim Min-young] The Korea Federation of Banks announced on the 20th that it will donate 100 million won to the Korean Red Cross to support emergency recovery and stabilize the lives of residents affected by the heavy rain.

Previously, the Federation of Banks and member institutions such as banks have been carrying out various social contribution projects for residents in the affected areas, including plans to support donations and relief supplies worth about 3 billion won, as well as operating meal and laundry vehicles and employee volunteer activities.

The banking sector is operating dedicated counters at each branch in the affected areas for prompt financial support, and through the "Comprehensive Financial Support Center for Heavy Rain Damage Areas," it is actively working to resolve urgent financial difficulties of residents and businesses in the affected areas by extending loan maturities and deferring repayments.

Kim Tae-young, chairman of the Korea Federation of Banks, said, "I express my deep condolences to the residents of the areas severely affected by the recent sudden heavy rain," and added, "The banking sector will actively participate in recovery efforts so that the affected residents can return to their daily lives as soon as possible."

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