BNK Gyeongnam Bank Signs Business Agreement to Support Growth of Small and Medium Enterprises in Gyeongnam Region
Special Support Funds Linked to Bank of Korea Gyeongnam Headquarters
Annual 30 Billion KRW Low-Interest Loans Based on Loan Amount
Major regional financial institutions, including BNK Gyeongnam Bank, have joined forces to support local small and medium-sized enterprises (SMEs).
On the 19th, BNK Gyeongnam Bank signed a 'Business Agreement to Support the Growth of SMEs in the Gyeongnam Region.'
The signing ceremony held at the Bank of Korea Gyeongnam Headquarters was attended by Park Sang-ho, Executive Director of BNK Gyeongnam Bank; Kim Jeong-hoon, Head of the Bank of Korea Gyeongnam Headquarters; Lee Hyo-geun, Chairman of the Gyeongnam Credit Guarantee Foundation; and Jo Cheong-rae, Head of NH Nonghyup Bank Gyeongnam Headquarters.
According to the agreement, the participating institutions will utilize the 'Bank of Korea Gyeongnam Headquarters SME Support Fund' to foster manufacturing companies located in Gyeongsangnam-do by alleviating the financial cost burden and improving financial accessibility for SMEs engaged in manufacturing in the Gyeongnam area.
In particular, BNK Gyeongnam Bank will support low-interest loans by linking the special support funds from the Bank of Korea Gyeongnam Headquarters with credit guarantees from the Gyeongnam Credit Guarantee Foundation.
The support scale is 30 billion KRW annually based on loan amounts, targeting SMEs engaged in manufacturing located in Gyeongnam.
The support limit is up to 300 million KRW per company based on loan amounts.
The support period is one year, with the possibility of extension according to the internal regulations of the foundation and the bank.
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Park, Executive Director of the Customer Marketing Headquarters, stated, “Major financial institutions in the Gyeongnam region have decided to unite to help local SMEs. We expect the financial burden on SMEs to be alleviated. BNK Gyeongnam Bank will strive even harder to become a strong force in the regional economic ecosystem.”
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