Busan Bank's Financial Support Program to Prepare for Typhoon 'Khanun' Damage

BNK Busan Bank announced on the 9th that it has proactively prepared financial support for damage recovery in anticipation of damages caused by Typhoon ‘Khanun’.

With the government raising the crisis alert for Typhoon ‘Khanun’ to the highest level of ‘Severe’ and concerns about nationwide damages, the bank plans to provide swift financial support to affected customers.

Busan Bank will provide new damage recovery funds of up to 500 million KRW per company to affected small and medium-sized enterprises and small business owners, and offer personal customers living stabilization loans of up to 20 million KRW.

To alleviate the economic burden on affected businesses and individuals, a special interest rate reduction of up to 1.0%p will also be implemented. The bank will support maturity extensions of up to one year without repayment for loan principals due for repayment, and installment repayments such as facility loans can be deferred for up to six months.

The support targets customers who have suffered actual damage from Typhoon ‘Khanun’ and can submit related documents such as a ‘Damage Confirmation Certificate’ and ‘Photos of Damage Sites’ to the bank.

Additionally, Busan BC Card customers affected by the typhoon will receive a benefit of up to six months’ payment deferral.

Detailed information about this emergency financial support can be found at all Busan Bank branches and customer centers.

Busan Bank Headquarters.

The ‘Busan Bank Emergency Disaster Relief Volunteer Corps’ has also completed preparations to assist with damage recovery in the Busan area.

After monitoring the overall disaster damage in the region, Busan Bank plans to urgently dispatch volunteer teams to support damage recovery depending on the extent of the damage.

Lee Su-chan, Head of Credit Sales at Busan Bank, said, “We are concerned that the damage to local residents may worsen due to the nationwide heavy rains followed by Typhoon ‘Khanun.’ Busan Bank will do its best to ensure prompt financial support is provided in preparation for any emergency.”

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