Jeonbuk Bank Provides 300 Billion KRW Special Loans for the Holiday Season

[Asia Economy Reporter Kim Min-young] Jeonbuk Bank announced on the 7th that it will provide 'Chuseok Special Operating Funds' from the 9th of this month to the 23rd of next month to small and medium-sized enterprises and small business owners located in Jeonbuk Province and bank branches ahead of the Chuseok holiday.

The support scale is 150 billion KRW for new loans and 150 billion KRW for maturity extensions, totaling 300 billion KRW. The support targets are commercial bill discounts and operating fund loans with a maturity of one year or less, including new operating funds and maturity extensions for SME loans that have reached their due date. Loan interest rates are preferentially applied according to transaction contribution, minimizing interest burden.

A Jeonbuk Bank official stated, "We will continue to expand quality financial support to local companies to revitalize the regional economy, and make various efforts to recover the local economy and return to daily life before the COVID-19 pandemic."

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