Bank of Korea Provides 2% Low-Interest Financial Support to Lenders for Chuseok Loans to Small and Medium Enterprises

The Daegu-Gyeongbuk Headquarters of the Bank of Korea (Head: Kwon Tae-yong) announced on the 14th that it plans to support Chuseok funds at a low interest rate of 2.0% to financial institutions that provide loans necessary for the smooth short-term operating fund procurement of local small and medium-sized enterprises (SMEs) in celebration of Chuseok.

When financial institutions lend operating funds with a maturity of less than one year to SMEs in the Daegu-Gyeongbuk region, the Bank of Korea will support up to 50% of the loan amount to these financial institutions at a low interest rate of 2.0%. However, five areas under the jurisdiction of the Bank of Korea Pohang Headquarters?Pohang, Gyeongju, Uljin, Yeongdeok, and Ulleung?are excluded.

Bank of Korea Daegu-Gyeongbuk Headquarters

Financial institutions will provide loans of up to 500 million KRW per SME from September 1 to 27, ahead of Chuseok, to SMEs excluding those in legal services, accounting and tax services, hospitals and clinics, pubs, financial industry, real estate, gambling, massage services, and companies with excellent credit ratings.

The Daegu-Gyeongbuk Headquarters of the Bank of Korea raised the loan limit per company from 300 million KRW to 500 million KRW starting this Lunar New Year, and the total loan amount for both Lunar New Year and Chuseok funds per company cannot exceed 500 million KRW.

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