Suhyup Bank Launches Financial Support Including Guarantee Loans for Small and Medium-Sized Coastal Shipping Companies

Sh Suhyup Bank Launches Preferential Loan Product
Based on Korea Ocean Business Corporation Guarantee
Up to 0.5 Percentage Point Interest Rate Benefit for Coastal Shipping Companies

Sh Suhyup Bank announced on the 20th that it will newly launch the "Sh Naehang Shipping Company Agreement Guarantee Loan," which supports small and medium-sized domestic coastal shipping companies based on a guarantee certificate from the Korea Ocean Business Corporation.

This loan product offers preferential interest rates of up to 0.5 percentage points to coastal shipping companies that have obtained a guarantee certificate from the Korea Ocean Business Corporation, for the introduction of new or used vessels or for operating funds required for shipping company operations. Suhyup Bank explained that this financial product was specially designed to support domestic coastal shipping companies experiencing management difficulties due to the COVID-19 pandemic and the continued rise in shipping freight rates.

Sh Suhyup Bank announced on the 20th that it will newly launch a new product, "Sh Naehang Shipping Company Agreement Guarantee Loan," which supports small and medium-sized coastal shipping companies based on a guarantee certificate from the Korea Ocean Business Corporation. Sh Suhyup Bank

Suhyup Bank plans to sign a financial business agreement with the Korea Ocean Business Corporation on the 21st to provide substantial financial support to small and medium-sized coastal shipping companies facing difficulties in securing ship financing. Through this agreement, Suhyup Bank aims to establish a cooperative network with the Korea Ocean Business Corporation and provide specialized financial services to selected qualified small and medium-sized coastal shipping companies, including operating financial consultation channels, offering interest rate benefits, and providing comprehensive financial consulting.

A representative from Suhyup Bank stated, "We hope that through the Sh Naehang Shipping Company Agreement Guarantee Loan, coastal shipping companies, which are a key pillar of Korea's logistics and transportation, will not face management difficulties due to interest burdens." The representative added, "As Korea's leading marine and fisheries bank, Sh Suhyup Bank will continue to do its best to further vitalize ship financing and contribute to the development of Korea's maritime industry."

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