KB Kookmin Bank Provides Emergency Funds for Typhoon 'Maysak' Damage Recovery

[Asia Economy Reporter Kangwook Cho] KB Kookmin Bank announced on the 3rd that it will provide financial support to customers affected by Typhoon 'Maysak' to assist with the restoration of damaged facilities and alleviate financial burdens.

The financial support is available to customers who have confirmed actual disaster damage caused by Typhoon 'Maysak' and who submit a 'Damage Confirmation Certificate' issued by the local administrative office to the bank. The application period for support is within three months from the date of damage occurrence.

The support amount will be within the scale of the damage: for personal loans, emergency living stabilization funds up to 20 million KRW; for business loans, working capital up to 500 million KRW (within the damage scale), and facility funds within the required amount for restoring damaged facilities. A special preferential interest rate of up to 1.0%p will also be applied to corporate loans.

Additionally, for affected customers holding loans with upcoming maturities, loan extensions are possible without additional principal repayment by applying preferential interest rates of up to 1.5%p for household loans and up to 1.0%p for corporate loans. If principal and interest are paid normally within three months from the date of damage occurrence, overdue interest will be waived.

A KB Kookmin Bank official stated, "We will do our best to provide financial support without limiting the total support amount to offer practical help to those affected," and added, "We hope those affected can quickly return to their daily lives."

Meanwhile, KB Financial Group donated 500 million KRW last month to the National Disaster Relief Association for regions and customers affected by the recent heavy rains. The donation will be used for disaster relief supplies and restoration of flood-damaged areas.

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