NongHyup Bank Offers Increased Loan Limits and Interest Rate Benefits for 'Together with Our Farms Companion Companies'

[Asia Economy Reporter Kiho Sung] NH Nonghyup Bank announced on the 18th that starting from the 17th, it will select agrifood companies that manufacture food products using Korean agricultural products as raw materials and contribute to the income of Korean farms as 'Together with Our Farms Partner Companies,' and provide preferential support for loan limits and interest rates.

If a food manufacturing company receiving the representative agrifood corporate loan, 'NH Agrifood Green Growth Loan,' uses more than 10% of its annual sales in Korean agricultural products as raw materials, it can receive an interest rate discount of up to 0.3%, and if certain conditions are met, it can receive additional preferential treatment on the loan limit.

Through this preferential financial support, NH Nonghyup Bank plans to continuously support Korean farms and agrifood companies struggling due to COVID-19, and in the future, select 'Together with Our Farms Partner Companies' by region, providing plaques and supporting market expansion to strengthen their efforts.

President Junhak Kwon stated, “Through this preferential support, we hope it will help not only agrifood manufacturing companies using Korean agricultural products as raw materials but also the sustainable management of Korean agriculture, which is the upstream industry,” and added, “NH Nonghyup Bank will continue to actively strive to support the expansion of consumption of Korean agricultural products.”

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