Daegu Bank, 10 Billion KRW Special Contribution to Support Small and Medium Enterprises

[Asia Economy Reporter Kim Min-young] DGB Daegu Bank announced on the 7th that it signed a 'Public-Private Joint Industrial Advancement Support Business Agreement' with Daegu City, Korea Technology Finance Corporation, and Daegu-Gyeongbuk Regional Small and Medium Venture Business Administration to alleviate financial difficulties of local SMEs facing management challenges, revitalize the regional economy through industrial structure advancement, and create jobs.

Daegu Bank will make a special contribution of 10 billion KRW to the Korea Technology Finance Corporation and offer preferential interest rates for SMEs in Daegu's key industries such as automobile parts and textiles, which are struggling due to sluggish domestic demand and exports.

The guarantee support limit is 200 billion KRW, and preferential guarantee terms such as a 0.2% reduction in guarantee fees by the Korea Technology Finance Corporation will be applied, allowing support for up to five years. Additionally, through linked support with Daegu City's management stabilization fund interest subsidy, SMEs located in Daegu can receive loan interest support ranging from 1.3% to 2.2% annually for one year, minimizing financial burdens.

Companies seeking financial support can apply for loans after screening by the Korea Technology Finance Corporation, and from today, working capital loans up to 1 billion KRW can be obtained at all Daegu Bank branches.

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