NongHyup Bank Contributes 4 Billion KRW to Support SME Financing

Signed Business Agreement with Korea Technology Finance Corporation
Supply of Guarantee Loans Worth 171.1 Billion KRW

NH Nonghyup Bank has decided to invest 4 billion KRW by signing a business agreement with the Korea Technology Finance Corporation to strengthen financial support for small and medium-sized enterprises (SMEs).

On the 10th, Nonghyup Bank announced that it signed a "Financial Support Agreement for Overcoming the Complex Economic Crisis and Fostering New Growth Industries" with the Korea Technology Finance Corporation. Nonghyup Bank plans to provide a total of 171.1 billion KRW in agreement guarantees by contributing 3 billion KRW in special contributions and 1 billion KRW in guarantee fee support.

The support targets are SMEs that meet the Korea Technology Finance Corporation's technology guarantee requirements, including ▲vulnerable SMEs ▲companies engaged in new growth industries ▲startups ▲companies targeted for strengthening SME competitiveness ▲and companies practicing ESG management. These companies can benefit from increased guarantee ratios (100%) and guarantee fee support (0.3%p, up to 3 years).

Lee Seok-yong, President of Nonghyup Bank, said, "Through this business agreement, we will make practical efforts to help SMEs overcome crises and secure competitiveness amid challenging business environments."

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