Korea Federation of Savings Banks Signs Loan Partnership Agreement with Jeonbuk Bank

After the linked loan business agreement ceremony held on the 29th, Park Jaesik, President of the Korea Federation of Savings Banks (left), and Seo Hanguk, President of Jeonbuk Bank, are taking a commemorative photo. Photo by Korea Federation of Savings Banks

[Asia Economy Reporter Song Seung-seop] The Korea Federation of Savings Banks signed a linked loan business agreement with Jeonbuk Bank on the 29th.

The agreement was held at the Jeonbuk Bank headquarters in Jeonju, Jeollabuk-do, with attendance from both parties including Park Jae-sik, Chairman of the Korea Federation of Savings Banks, and Seo Han-guk, President of Jeonbuk Bank. The goal is to expand financial services for low-income earners and small and medium-sized enterprises (SMEs) and to promote mutual benefits, with 48 savings banks participating.

According to the agreement, Jeonbuk Bank will introduce savings banks to customers among SMEs, small business owners, and individual clients who have difficulty dealing with the bank or wish to obtain additional loans. The savings banks will provide appropriate secured and unsecured loan products to customers introduced through Jeonbuk Bank.

The Federation plans to continuously expand its business channels by pursuing further partnerships with other financial institutions. The Federation has already signed linked loan agreements with Woori Bank, Suhyup Bank, and Daegu Bank.

In his greeting, Chairman Park emphasized, “Through this agreement, Jeonbuk Bank and the savings banks have established a close linked loan cooperation relationship,” and added, “We hope to further strengthen support for low-income earners and SMEs who face difficulties in using financial services.”

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