Busan Bank Provides Ultra-Low Interest Support to Companies in Busan City's 7 Strategic Industries

Relieving Financial Burden with Interest Rate Support Around 1%

Busan Bank Headquarters.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] BNK Busan Bank announced on the 11th that it will provide low-interest financial support starting from the 14th to companies engaged in the '7 Strategic Industries of Busan City' that are struggling due to the novel coronavirus infection (COVID-19).

This financial support, totaling 90 billion KRW in loans, is a collaboration between Busan Bank, Busan City, and the Busan Credit Guarantee Foundation. It reflects the expectations from the industrial field that, following the focus on financial support mainly for small business owners in the first half of this year, support is also needed for manufacturing and other industries.

The support targets small and medium-sized enterprises and small business owners located in Busan City, corresponding to the 7 strategic industries of Busan City, whose representatives have credit ratings between 1 and 7. Each company can receive up to 200 million KRW.

Additionally, through the city's interest rate support and the Busan Credit Guarantee Foundation's guarantee issuance, an ultra-low interest rate of around 1% per annum is applied to reduce the financial burden on companies.

Son Dae-jin, Head of Credit Sales Division at Busan Bank, said, "We hope this financial support will provide practical help for the management stability and growth of Busan's next-generation leading companies suffering from the prolonged COVID-19 pandemic."

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