Bank of Korea Gwangju-Jeonnam Headquarters Supports 'Holiday Special Funds'
[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] The Gwangju-Jeonnam Headquarters of the Bank of Korea (Head Kim Yoon-gi) announced on the 24th that it plans to support a special holiday fund of 20 billion KRW to facilitate smooth financing for small and medium-sized enterprises located in the Gwangju and Jeonnam regions during the peak funding season of the Lunar New Year.
The main point is to provide low-interest support (currently 0.25% per annum as of December) for a portion of working capital loans with a maturity of less than one year handled by financial institutions during the support period (proportionally distributed up to a maximum of 50%).
However, companies in excluded loan sectors such as real estate and entertainment, as well as professional sectors including law firms, patent offices, certified public accountants, tax services, hospitals, and clinics, are excluded.
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This measure is expected to contribute to alleviating financial difficulties and reducing financial costs for self-employed individuals and small and medium-sized enterprises in the region during the peak funding season of the Lunar New Year.
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