Gwangju Bank-Bukgu, Business Agreement for Supporting Small Business Owners with 'Didimdol Special Guarantee'

Loan period up to 5 years... Up to 10 million KRW support per company

2% interest difference subsidy by Buk-gu for 2 years after loan handling

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Gwangju Bank (President Song Jong-wook) announced on the 18th that it signed a 'Didimdol Special Guarantee Business Agreement' with Buk-gu, Gwangju Metropolitan City, and the Gwangju Credit Guarantee Foundation.

The signing ceremony, promoted to respond to the prolonged economic downturn caused by COVID-19, was attended by Song Jong-wook, President of Gwangju Bank, and Moon In, Mayor of Buk-gu, Gwangju Metropolitan City, among others.

Gwangju Bank separately contributed 50 million KRW to support small business owners in Buk-gu, Gwangju, who are experiencing management crises due to COVID-19 quarantine guidelines, restricted business hours, and economic recession, and decided to support a total of 975 million KRW in 'Buk-gu Didimdol Special Guarantee Loans.'

The Buk-gu Didimdol Special Guarantee Loan supports small business owners operating businesses located in Buk-gu, Gwangju, with up to 10 million KRW per business, and the loan period is up to 5 years.

The loan interest rate is specially discounted by up to 0.3 percentage points (p), and Buk-gu will compensate for a 2% interest difference for 2 years after the loan is issued.

Song Jong-wook, President of Gwangju Bank, said, "We hope to support small business owners in the region who are suffering from management difficulties due to the prolonged economic downturn and restricted business hours caused by COVID-19, and thereby revitalize the local economy." He added, "As a representative bank of Gwangju and Jeonnam, we will continue to prepare various financial support measures for local residents and achieve mutual growth with the region."

Meanwhile, since 2019, Gwangju Bank has specially contributed 130 million KRW to the Buk-gu small business special guarantee project and has supported a total of 7.6 billion KRW in special guarantee loans to 455 companies in Buk-gu, Gwangju.

On the 11th, Gwangju Bank signed a business agreement with Dong-gu Office, Gwangju, and separately contributed 50 million KRW to support the 'Gwangju Dong-gu Small Business Special Guarantee Loan.' Ahead of the Lunar New Year holiday, to support local small and medium-sized enterprises and small business owners facing difficulties in operating funds, a total of 500 billion KRW was allocated for 'Lunar New Year Special Fund Loans' for new and maturity extension funds, and emergency support is being provided until the 25th.

Additionally, Gwangju Bank has implemented its own special fund support, and as of last month, the financial support provided by Gwangju Bank to small and medium-sized enterprises and small business owners affected by COVID-19 reached 27,632 cases and 1.2584 trillion KRW.

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