NongHyup Bank to Provide Up to 500 Million KRW per Company for Wildfire Damage Recovery
500 Million KRW in Corporate and Agricultural Food Funds
100 Million KRW in Household Funds Provided
NongHyup Bank announced on the 24th that it has prepared credit support measures to aid in the recovery from the wildfire damage that occurred in Sancheong, Gyeongnam, and other areas.
From today until December 31 of this year, NongHyup Bank will provide new funds to farmers, merchants, residents, and small and medium-sized enterprises in the affected areas who have received a damage confirmation certificate. Specifically, 500 million KRW for corporate funds and agricultural food funds, and 100 million KRW for household funds. A preferential interest rate of 2.0% will be applied, and for farmers, it will be 2.6%. An interest payment deferral for 12 months will also be implemented.
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For existing loans, the same beneficiaries will be granted a 12-month deferral on interest and installment repayments.
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