KB Kookmin Bank Delivers 1 Billion Won Special Donation to Gyeongbuk Province to Support Small Business Owners Affected by Wildfires

Gyeongbuk Province announced that KB Kookmin Bank has provided a special donation to support small business owners in the Gyeongbuk region who have suffered significant damage from recent large-scale wildfires.

On May 13, Lee Jesik, Head of KB Kookmin Bank Daegu Gyeongbuk Regional Sales Group, visited the provincial government office and delivered a special donation of 1 billion won to Governor Lee Cheolwoo.

Lee Jesik, Head of KB Kookmin Bank Daegu Gyeongbuk Regional Sales Group (4th from left), is taking a commemorative photo with Lee Cheolwoo, Governor of Gyeongbuk Province (3rd from right), Shin Changhyup, Head of KB Kookmin Bank Region 5 Headquarters (3rd from left), and other related staff after delivering a special donation of 1 billion won.

This year, KB Kookmin Bank has already contributed 2 billion won in special donations to provide financial support for small and medium-sized enterprises and small business owners in the province. In addition, the bank has decided to provide an extra 1 billion won in special donations, recognizing the hardships faced by small business owners who have been affected by unexpected wildfires and aiming to help them recover quickly.

The special donation, in addition to the existing funds, will be used as guarantee resources by the Gyeongbuk Credit Guarantee Foundation to provide low-interest policy funds to small business owners in the province. This will enable support of up to 45 billion won (15 times the donated amount) to local small business owners.

With this program, if small business owners receive Gyeongbuk Support Finance interest subsidies on general guaranteed loans (around 5%), they will be able to access low-interest funds at rates in the 2% range. The loan limit is up to 50 million won (or up to 100 million won for disaster cases), with a two-year grace period and either a three-year repayment schedule or a lump-sum repayment after two years.

In particular, small business owners affected by wildfires can receive up to 300 million won in loans (within the amount of damage) with two years of zero interest and a maximum term of up to 10 years, if they utilize both the "Disaster Small Business Emergency Management Stabilization Fund" supported by the Small Enterprise and Market Service and the Gyeongbuk Support Finance interest subsidy.

To apply for funding, business owners can select the branch corresponding to their business address through the "Gyeongbuk Credit Guarantee Foundation AI Call Center (1588-7679)" and receive detailed guidance.

Lee Jesik, Head of KB Kookmin Bank Daegu Gyeongbuk Regional Sales Group, stated, "I hope that small business owners in the region who are suffering from wildfire damage can recover as soon as possible," and added, "KB Kookmin Bank will do its utmost to provide support."

Governor Lee Cheolwoo said, "This will be a great source of strength for residents who have been disheartened by the unprecedented wildfire damage," and expressed his deep gratitude to KB Kookmin Bank for willingly stepping up to provide support."

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