BNK Financial Group Releases 1.6 Trillion KRW in Lunar New Year Loans... Busan and Gyeongnam Banks Provide Special Funds for SMEs and Small Business Owners

Special Lunar New Year Loans of 800 Billion Won Each from Two Banks

Up to 3 Billion Won for Local Startups and Job-Creating Companies

Additional Financial Cost Relief with Up to 1.0% Interest Rate Reduction

BNK Financial Group's Busan Bank and Gyeongnam Bank are providing a total of 1.6 trillion KRW in the ‘BNK 2024 Lunar New Year Special Loan’ to local small and medium-sized enterprises (SMEs) and small business owners in celebration of the Lunar New Year.

To alleviate the management difficulties of local SMEs struggling due to the prolonged economic downturn and to support the revitalization of the regional economy, each bank will release 800 billion KRW (400 billion KRW in new loans and 400 billion KRW in loan extensions) over two months from February 8 to March 8, totaling 1.6 trillion KRW.

The main support targets are long-term partner SMEs, local startups, SMEs with excellent technological capabilities, companies creating local jobs, SMEs engaged in local government strategic industries, and companies with a good repayment record. The maximum support amount per company is 3 billion KRW.

To reduce the financial burden on eligible companies, an additional interest rate reduction of up to 1.0% will also be provided.

For more details about the special loan, inquiries can be made at all branches and customer centers of Busan Bank and Gyeongnam Bank.

A BNK Financial Group official said, “We hope to support local SMEs and small business owners who are facing management difficulties due to the ongoing economic downturn,” adding, “BNK will do its best to assist local SMEs and small business owners in hardship through various financial support programs.”

BNK 2024 Lunar New Year Special Loan Product.

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