Changwon City Eases Childcare Burden with 'Parental Leave Eligible for Primary Financial Institution Loans'

Agreement with BNK Gyeongnam Bank, Implemented for One Year This Year

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Changwon City, Gyeongnam announced on the 15th that it is implementing the 'Basic Living Expense Loan Support for Families on Parental Leave' project, which was agreed upon with BNK Gyeongnam Bank in December last year.

This project supports first-tier financial institution loans for citizens who cannot take parental leave due to economic burdens, thereby alleviating the child-rearing burden.

Families on parental leave find it nearly impossible to obtain loans from first-tier financial institutions, and even with high interest rates, loans from second- or third-tier financial institutions are difficult to secure.

The loan support project targets families on parental leave who have lived in the city for more than one year and have been employed for over one year. Loans of up to 100 million KRW are provided depending on individual credit ratings. Applications are accepted until December 31.

Amid strong interest from families on parental leave, two loans have been executed as of February.

Families on parental leave wishing to apply consult with BNK Gyeongnam Bank, submit parental leave documents to their local district office, and BNK Gyeongnam Bank conducts the review and approval for support.

A city official stated, "We hope that this project, implemented to ease the economic burden on families on parental leave, will be actively utilized and help with childbirth and child-rearing."

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