Busan Bank Partners with Korea Trade Insurance Corporation to Create Jobs in the 'Korean New Deal'

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] BNK Busan Bank announced on the 6th that it has signed a "Business Agreement for Regional Economic Rebound and Creation of Korean New Deal Jobs" with the Korea Trade Insurance Corporation.

According to the agreement, Busan Bank will support guaranteed loans ranging from 100 million to 300 million KRW annually based on export performance, and the loan interest rate will be reduced by 1.0 percentage point from the initially calculated rate with the branch manager's full authority.

Companies certified by local governments as excellent employment companies or excellent job creation companies will receive additional support of up to 10% of the loan limit calculated based on annual export performance.

The Korea Trade Insurance Corporation will simplify the screening items for companies recommended by Busan Bank for prompt review, and will apply a preferential guarantee rate of 1.0%, a single rate, instead of the grade-based applied rate (up to 2.5%).

Son Dae-jin, Head of Credit Sales Division at Busan Bank, stated, "We have joined forces with the Korea Trade Insurance Corporation to help regional small and medium-sized export companies struggling due to the prolonged economic downturn caused by COVID-19 to rebound, and to actively participate in the Korean New Deal policy promoted by the government."

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