‘Warming Busan's Livelihood Economy Again’ … BNK Busan Bank and Busan City Council Sign Business Agreement

Busan Bank and Busan City Council officials are taking a group commemorative photo after signing a business agreement.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Duyul] BNK Busan Bank and the Busan Metropolitan Council have taken steps to support small business owners and vulnerable youth groups who are struggling due to the 3-high phenomenon (high interest rates, high inflation, high exchange rates) and the prolonged COVID-19 pandemic.

On the morning of the 16th, Busan Bank signed a business agreement for a 50 billion KRW financial program called "Busan Livelihood Economy Warm Again" at the Busan Metropolitan Council's medium conference room.

According to the agreement, Busan Bank plans to reduce the financial burden on self-employed individuals and vulnerable groups (small business owners, youth, etc.), support a stable soft landing, and fulfill its social responsibility as a leading financial institution in the region.

First, Busan Bank will provide 40 billion KRW in new and refinancing living funds to small business owners experiencing financial difficulties.

For youth who use private loans, a program to support 10 billion KRW in refinancing funds through the formal financial sector is also planned to be implemented next month. Additionally, a debt adjustment program will be conducted to support individual debtors facing difficulties in loan repayment.

Bank President An Gamchan of Busan Bank said, "I hope that this financial support through the business agreement with the Busan Metropolitan Council will bring at least some hope to local small business owners and youth," and added, "Busan Bank will continue to make every effort to wisely overcome difficult times together with local residents and create a better Busan."

Busan Bank has been leading efforts to revitalize the local economy, including signing a business agreement for the "Economic Crisis Overcoming Accompaniment Project" with Busan City and the Busan Metropolitan Council in September, committing a total of 7.3 trillion KRW over three years to practice win-win management.

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