Kim Dong-yeon's 'Gyeonggi Youth Startup Bridge Finance' to be released within the year... Agreement with Hana Bank

Gyeonggi Province Governor Kim Dong-yeon (fourth from the left) is taking a commemorative photo after signing an agreement for the launch of the Gyeonggi Youth Startup Bridge financial product with Hana Bank President Lee Seung-yeol (fourth from the right) at Hana Bank on the 21st.

Gyeonggi Province will launch a financial product within this year that allows young adults aged 25 to 34 residing in the province to use low-interest loans and preferential interest savings through a single account.

On the 21st, Gyeonggi Province announced that it signed a business agreement with Hana Bank at the bank's headquarters in Seoul to support the Gyeonggi Youth Startup Bridge Finance.

The Gyeonggi Youth Startup Bridge Finance is one of Governor Kim Dong-yeon's key pledges, designed to support young people in pursuing their dreams by providing financial products for youth.

The loan supply scale is approximately 1 trillion KRW, supporting up to 5 million KRW for up to 10 years for young adults aged 25 to 34 in the province. The loan interest rate is set lower than the credit loan rate for individuals with the highest credit rating.

Many young people are so-called domestic financial history thin filers who lack sufficient financial transaction information and thus cannot receive proper credit recognition, often resulting in interest rates exceeding 15% or being unable to obtain loans at all.

The Gyeonggi Youth Startup Bridge Finance project provides equal opportunities to young people regardless of their assets or income, helping them build their credit history independently and maintain stable financial lives. It is also expected to alleviate difficulties for those who need urgent living expenses or job-seeking funds but find it difficult to get loans.

Additionally, to encourage savings, a special preferential interest rate will be applied even for passbook accounts with a zero or higher balance, supporting youth financial independence.

Gyeonggi Province previously solicited project operators from January 26 to March 9 and selected Hana Bank as the final project operator through an evaluation committee.

Gyeonggi Province will provide administrative and financial support related to the project, while Hana Bank will execute the product.

Gyeonggi Province plans to finalize detailed implementation plans in consultation with Hana Bank and enable application submissions, loans, and savings usage within this year.

Governor Kim Dong-yeon of Gyeonggi Province said, "The Gyeonggi Youth Startup Bridge Finance is a program that gives young people dreams and hope while providing more opportunities. I am very pleased and grateful that Hana Bank is actively participating. I hope we become partners working together for change for the development of our society and nation. If Hana Bank needs anything while working on this, Gyeonggi Province will provide wholehearted support."

Lee Seung-yeol, CEO of Hana Bank, stated, "I understand that Gyeonggi Province is implementing various programs such as the ladder program supporting overseas training for youth and the gap year program that helps them explore and try what they want to do. Hana Bank is also actively carrying out various financial support projects such as housing loans for youth and hope savings and deposits. We will work together with Gyeonggi Province so that many young people in the province can grow and realize their dreams through the Gyeonggi Youth Startup Bridge Finance project," he emphasized.

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