Gyeongnam Province and Local Financial Institutions Discuss COVID-19 Livelihood and Economic Recovery Measures

Economic Vice Governor Park Jong-won to Hold Meeting with Local Financial Institution Heads on the 25th

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do held a meeting with heads of local financial institutions at the provincial government office on the 25th to discuss measures for regional economic recovery amid the prolonged COVID-19 pandemic.

The meeting was attended by a total of 13 organizations, including financial institutions such as the Bank of Korea Gyeongnam Headquarters and NH Nonghyup Bank Gyeongnam Headquarters, as well as the Gyeongnam Economic Promotion Agency.

During the meeting, following a presentation by the head of the Gyeongnam Economic Promotion Agency on "Changes and Challenges in the Gyeongnam Economy Since the Outbreak of COVID-19," participating organizations shared support policies for small and medium-sized enterprises and small business owners, and discussed cooperation plans.

In particular, the province requested financial institutions to create an environment where companies can smoothly receive financial support by easing credit conditions for aviation and shipbuilding companies, lowering loan interest rates, and reducing credit evaluation fees.

Park Jongwon, Deputy Governor for Economic Affairs of the province, said, "I would like to express my gratitude to financial institutions for promptly preparing and actively implementing support measures for companies and small business owners during the unprecedented COVID-19 crisis last year."

He added, "Especially, I ask you to be a reliable support so that those suffering from low credit ratings or exceeding loan limits do not become excluded from assistance."

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