Chungnam Shinbo and KakaoBank Join Hands to Support SMEs and Small Business Owners Financially

Chungnam Credit Guarantee Foundation announced on the 8th that it had signed a special contribution business agreement with KakaoBank on the 7th to provide financial support for small and medium-sized enterprises (SMEs) and small business owners in the province.

Chungnam Credit Guarantee Foundation and KakaoBank have maintained a continuous partnership since signing a special contribution agreement in 2023, including an agreement on the upper limit of interest rates for guaranteed loans.

Through this agreement, KakaoBank will make a special contribution of 2 billion KRW to Chungnam Credit Guarantee Foundation, which will use it as guarantee funds to provide 30 billion KRW in credit guarantees to local companies.

KakaoBank has significantly increased its contribution from 900 million KRW last year to 2 billion KRW this year, enabling more companies in the province to receive financial support.

Additionally, to ease the financial burden on local companies, if they receive guaranteed loans from KakaoBank, they will also receive a 50% subsidy on guarantee fees.

Chairman Cho Sohaeng stated, "It is very meaningful and I am grateful to sign the first agreement of the new year 2025 with KakaoBank," and added, "Through this contribution, I expect that many companies in the province will receive funding support to overcome management difficulties and accelerate growth."

He continued, "In line with KakaoBank, which provides innovative services, our foundation will also make active efforts to provide innovative guarantee support."

Kim Seok, Head of Banking Group at KakaoBank, said, "We are grateful to be able to maintain a continuous cooperative relationship with Chungnam Credit Guarantee Foundation," and added, "KakaoBank promises to continuously provide innovative services for small business owners."

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