KB Kookmin Bank Provides Financial Support to Companies Affected by the Ukraine Crisis

[Asia Economy Reporter Buaeri] KB Kookmin Bank is supporting companies affected by the Ukraine crisis.

On the 8th, Kookmin Bank announced that it has implemented the 'KB Disaster Recovery Financial Support Program.'

The support targets domestic mid-sized and small enterprises that have established corporations or factories and expanded into Ukraine and Russia. These are domestic mid-sized and small enterprises with export, delivery, import, or purchase records or plans in the conflict areas from January last year to the present (with submission of supporting documents). Partner and supplier companies related to companies that have entered the conflict areas or have import/export records are also included.

Regarding the support details, for new financial support, working capital is provided up to 500 million KRW within the scale of damage, and facility funds are supported within the required amount for restoring damaged facilities. A special preferential interest rate discount of up to 1.0 percentage point is also applied.

For affected companies holding loans maturing within 3 months, loan extensions are possible by applying a preferential interest rate discount within 1.0 percentage point without additional principal repayment.

A KB Kookmin Bank official said, "This financial support program is a measure to quickly assist companies temporarily facing difficulties due to the Ukraine crisis," adding, "We hope it will provide practical help to companies struggling because of the Ukraine crisis."

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