Housing Finance Corporation Provides Financial Support to Small and Social Enterprises in Busan Region

Busan Bank and IBK Industrial Bank Collaborate to Establish Win-Win Loan Fund, Offering Low-Interest Loans to COVID-19 Affected Businesses

[Asia Economy Reporter Park Sun-mi] Korea Housing Finance Corporation (HF Corporation) is stepping up financial support for small and medium-sized enterprises (SMEs) and social enterprises struggling due to COVID-19.

On the 10th, HF Corporation announced that it signed a 'Financial Support Agreement for Coexistence with Busan SMEs' with BNK Busan Bank.

Under this agreement, HF Corporation and BNK Busan Bank will establish a fund worth 30 billion KRW to support SMEs in the Busan area, including ▲companies facing difficulties due to COVID-19 ▲companies that have created new jobs ▲social enterprises, enabling them to access loans at low interest rates.

The loan limit is 500 million KRW per company, and an interest rate at least 0.65 percentage points lower than the rate calculated for each company will be applied. For detailed information about the loans, please contact the nearest Busan Bank branch.

HF Corporation has also decided to establish a 30 billion KRW fund with IBK Industrial Bank of Korea to support local SMEs.

Lee Jung-hwan, President of HF Corporation, said, “We hope this will help stabilize the management and employment of SMEs struggling due to COVID-19,” and added, “We will continue to explore various ways to support regional coexistence and job creation to overcome the COVID-19 crisis early and revitalize the local economy.”

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