Gwangju Bank Implements 29.3 Billion KRW Livelihood Finance Support Program

Gwangju Bank announced a livelihood financial support plan totaling 29.3 billion KRW on the 1st.

Gwangju Bank allocated approximately 17.2 billion KRW for interest cashback (refund) and 12.1 billion KRW for autonomous programs.

Starting from the 7th, the bank will provide the first round of support amounting to 15.2 billion KRW to 11,416 individual business owners eligible for interest cashback on loans for self-employed and small business owners.

The support targets are individuals holding personal business loans as of December 20 of last year, excluding real estate rental loans, foreign currency loans, overdraft loans other than limit loans, and accounts that have lost the benefit of the term.

The support method provides cashback up to a maximum of 20 million KRW per loan account, paying 90% of the amount exceeding 4% of the normal interest paid last year, up to a maximum of 3 million KRW per customer. The cashback will be credited automatically to the loan automatic transfer account without a separate application process.

Additionally, accounts with a loan period of less than one year will receive cashback on interest accrued in the following month of each quarter (this year). Approximately 3,936 individual business owners are expected to receive about 2 billion KRW.

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