Gwangju Bank Provides Financial Support to Businesses Affected by Heavy Rainfall

Gwangju Bank will provide financial support to help with damages caused by the heavy rain.

On the 17th, Gwangju Bank announced that it has prepared an emergency management stabilization fund worth 100 billion KRW to be used for restoring damaged facilities.

Companies affected by the heavy rain in the central and southern regions, including the metropolitan area, will be supported with up to 300 million KRW per company, and individuals will be supported up to 20 million KRW.

A maximum interest rate reduction benefit of 1.0%p (percentage points) will also be provided.

If affected companies (customers) have loans maturing, the loan maturity will be extended without separate principal repayment by applying a 1.0%p reduction in loan interest rates, and installment repayments will be deferred.

Gwangju Bank will also operate a 'Comprehensive Situation Room for Disaster-Affected Companies' to receive and handle financial difficulties.

Employees will be dispatched directly to the damage sites and will strive to stabilize the management of companies by devising practical support measures through on-site inspections.

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