Gwangju Bank and Gwangsan-gu Sign Special Guarantee Business Agreement for Small Business Owners

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Gwangju Bank announced on the 22nd that it signed a 'Special Guarantee Agreement for Small Business Owners' with Gwangsan-gu Office of Gwangju Metropolitan City and Gwangju Credit Guarantee Foundation to support small business owners struggling due to the regional economic downturn. The signing ceremony was held at Gwangsan-gu Office in Gwangju, attended by Park Byung-gyu, head of Gwangsan-gu Office, and Yeom Gyu-song, vice president of Gwangju Bank.

Through this agreement, Gwangju Bank separately contributed 50 million KRW to support small business owners in Gwangsan-gu, Gwangju, who are facing management crises due to prolonged COVID-19, rising prices, and increased labor costs, and plans to provide a total of 2.1 billion KRW in 'Gwangsan-gu Small Business Owner Special Guarantee Loans.'

The 'Gwangsan-gu Small Business Owner Special Guarantee Loan' supports small business owners operating in Gwangsan-gu, Gwangju, with up to 20 million KRW per business, and the loan period is up to 5 years.

Additionally, for one year after the loan is issued, Gwangsan-gu in Gwangju will compensate for the interest rate difference of 4.5%, and Gwangju Bank will apply a 0% interest rate for one year, allowing customers to use the loan interest-free for one year.

Yeom Gyu-song, vice president of Gwangju Bank, said, "We hope to support small business owners in the region who are struggling due to the economic downturn and thereby revitalize the local economy," adding, "As the representative bank of Gwangju and Jeonnam, we will continue to prepare various financial support measures for local residents and achieve mutual development with the region."

Prior to this agreement with Gwangsan-gu Office, Gwangju Bank signed 'Special Guarantee Agreements for Small Business Owners' with Dong, Seo, and Buk districts of Gwangju earlier this year. Including this agreement, the bank has made a total special contribution of 250 million KRW and will support a total of 7.575 billion KRW in 'Special Guarantee Loans for Small Business Owners.'

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