Busan·Gyeongnam Bank Launches 1.6 Trillion KRW Lunar New Year Special Loan
Until February 28
Up to 3 billion KRW per company
Maximum 1% point interest rate reduction
Busan Bank and Gyeongnam Bank announced on the 6th that they will provide a total of 1.6 trillion KRW in the ‘BNK 2025 Lunar New Year Special Loan’ to local small and medium-sized enterprises (SMEs) and small business owners in celebration of the Lunar New Year holiday.
Each bank will support 800 billion KRW (400 billion KRW for new loans and 400 billion KRW for loan extensions) until the 28th of next month, totaling 1.6 trillion KRW. The support targets include long-term partner SMEs, local startups, SMEs with excellent technological capabilities, local job-creating companies, SMEs engaged in local government strategic industries, and companies with a good repayment record.
The maximum support limit per company is 3 billion KRW. To reduce financial costs for local SMEs, an interest rate reduction of up to 1.0 percentage point will also be provided.
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A BNK Financial Group official stated, “We hope this management stabilization fund will be a practical help to local SMEs facing difficulties,” and added, “BNK Financial Group will continue to prepare various financial support programs to warmly accompany local SMEs and small business owners.”
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