Jeonbuk Bank Provides 500 Billion Won in Special Operating Funds for Chuseok Holiday

Jeonbuk Bank (President Baek Jong-il) will provide the 'Chuseok Holiday Special Operating Funds' to small and medium-sized enterprises and individual business owners from the 18th of this month until the 17th of next month.

According to Jeonbuk Bank on the 11th, the total funding support amounts to 500 billion KRW, with 250 billion KRW for new loans and 250 billion KRW for maturity extensions.

The support targets include commercial bill discounts and operating fund loans with a maturity of one year or less, covering new operating funds and maturity extensions for SME loans due. Loan interest rates will apply preferential rates based on transaction contribution, minimizing interest burdens.

This Chuseok holiday special operating fund support is aimed at SMEs expected to face temporary difficulties in financing due to prolonged economic downturn, liquidity shortages, decreased sales leading to insufficient funds for payments, and payment of employee holiday bonuses.

It is expected to help alleviate financial difficulties and reduce financial costs for local SMEs experiencing the dual hardships of economic recession and sluggish domestic demand.

A Jeonbuk Bank official stated, "We hope to continue expanding high-quality financial support to companies in the province to help revitalize the local economy."

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