Yangsan City Expands Special Guarantee for Small Businesses to 22.5 Billion Won in Partnership with Local Financial Institutions

Business Agreement Signed with Kyongnam Bank, Hana Bank, and Saemaeul Geumgo for a Total Contribution of 1.5 Billion Won
Guaranteed Loans Provided through Gyeongnam Credit Guarantee Foundation, Offering 22.5 Billion Won in Business Stabilization Funds

On August 6, Yangsan City, together with Kyongnam Bank, Hana Bank, and the Gyeongnam Credit Guarantee Foundation, held a signing ceremony for the 'Yangsan City Special Guarantee Support Project for Small Business Owners' and announced the expansion of the special guarantee support project for small businesses.

Special Guarantee Support Agreement for Regional Finance. Provided by Yangsan City

Through this agreement, in addition to the 500 million won contributed by Saemaeul Geumgo last month, Kyongnam Bank and Hana Bank will each contribute an additional 500 million won, bringing the total special contribution to 1.5 billion won. The Gyeongnam Credit Guarantee Foundation will expand its guarantee support to 22.5 billion won, which is 15 times the contributed amount.

In addition, the city will provide full support for the 2.5% interest differential and the first year’s credit guarantee issuance fee, thereby offering more practical and direct assistance for business stability.

At the signing ceremony for each bank, Yangsan Mayor, Kim Taehan, President of Kyongnam Bank, Lee Byeongjik, Regional Head of Busan Gyeongnam Business Division at Hana Bank, and Lee Hyogeun, Chairman of the Gyeongnam Credit Guarantee Foundation, attended and pledged joint efforts to revitalize the local economy.

This special guarantee support project targets small business owners operating in Yangsan City for more than three months, with loans available up to 50 million won per business. Applications can be submitted from August 6 through the Gyeongnam Credit Guarantee Foundation website or the Foundation's Bojeung Dream app (downloadable from the Play Store/App Store or via the website). Detailed information is available in the announcement section of the city’s website under 'Notices/Announcements.'

Mayor Na Dongyeon stated, "This special guarantee support project for small business owners is a model case of public-private cooperation that goes beyond simple financial support to establish a sustainable foundation for local economic growth and the self-reliance of small businesses." He added, "Yangsan City will continue to strengthen cooperation with local financial institutions and expand support policies for small businesses that reflect the voices from the field."

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