Gwangju Bank and Buk-gu Gwangju Sign Agreement to Support New Loans for Small Businesses

On the 18th, Gwangju Bank signed a '2025 Inclusive Finance Interest Subsidy Support Business Agreement' with Buk-gu, Gwangju. Photo by Gwangju Bank

Kwangju Bank (President Ko Byungil) announced on the 20th that it has recently signed a "2025 Inclusive Finance Interest Subsidy Support Business Agreement" with Buk-gu District of Gwangju.

The signing ceremony, held on the 18th, was attended by Moon In, Mayor of Buk-gu District, Yoo Jaeuk, Executive Director of the Korea Inclusive Finance Agency, and Kim Jonghun, Vice President of Kwangju Bank. The agreement was established to alleviate the financial burden on low-income citizens who are struggling due to high interest rates, high inflation, and the economic downturn.

Kwangju Bank will provide new inclusive finance loans to low-credit and low-income small business owners whose businesses are located in Buk-gu District. The eligible products include Inclusive Finance Special Loan, KJB Saehuimangholssi II, Haeitsallon 15, Haeitsallon Bank, and the Special Guarantee for Lowest Credit Borrowers, totaling five products. Buk-gu District Office has pledged to provide a 5.0% interest subsidy for one year after the loan is issued.

Applications for support can be made at all Kwangju Bank branches starting next month, and the total amount of interest support is 75 million KRW, which will be provided on a first-come, first-served basis.

Kim Jonghun, Vice President, said, "We hope that this agreement will help ease the interest burden on loans for local small business owners and residents," adding, "We will continue to fulfill our corporate social responsibility to overcome local crises and revitalize the local economy, with a strong sense of mission for mutual growth with the community."

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