Sh Suhyup Bank Provides 50 Billion KRW in Emergency Financial Support for Flood Victims

Livelihood Stabilization Loans and More
for Customers in Special Disaster Areas and Those Who Reported Damages

Sh Suhyup Bank announced that it will provide emergency financial support to help individuals, fishers, and small and medium-sized enterprises (individual business owners) who have suffered damage from recent heavy rains and floods to quickly return to their daily lives and stabilize their livelihoods and business operations.

This support is targeted at customers who have reported damages and those in the special disaster areas declared by the government, including Gapyeong in Gyeonggi Province, Seosan and Yesan in South Chungcheong Province, Damyang in South Jeolla Province, and Sancheong and Hapcheon in South Gyeongsang Province.

Suhyup Bank will newly provide livelihood stabilization loans (up to 20 million KRW) to individuals affected by flood damage. For fishers and small and medium-sized enterprises (individual business owners), the bank will offer new working capital loans (up to 500 million KRW), facility funds (within the amount required for damage recovery, with a preferential interest rate of 1.5% for fishers), as well as extensions on existing loan maturities and deferment of principal and interest repayments (up to 6 months).

To receive emergency financial support for flood damage recovery, applicants must obtain a 'Damage Confirmation Certificate' from the administrative office of the affected area and submit it to the Suhyup Bank branch where they wish to receive support.

Bank President Shin Hakgi stated, "We extend our deepest condolences to the local communities, affected companies, and disaster victims who have suffered from the unexpected flood damage, and we will provide comprehensive financial support so that everyone can return to their daily lives as soon as possible."

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