Jeonbuk Bank Strengthens Support for SMEs and Small Business Owners in Partnership with Korea Credit Guarantee Fund

Non-face-to-face and Digital Finance Activation
Business Agreement (MOU)

Jeonbuk Bank announced on November 13 that it has signed a "Non-face-to-face and Digital Finance Activation Business Agreement (MOU)" with the Korea Credit Guarantee Fund to strengthen support for small and medium-sized enterprises (SMEs) and small business owners.

This agreement was established as part of a collaborative effort to enhance financial accessibility for SMEs facing difficulties due to the economic downturn and funding shortages, and to promote productive finance practices.

Through this agreement, the two institutions will provide a "one-stop service" that enables companies to complete all processes-from guarantee consultation and loan application to guarantee approval and fund disbursement-in a single step. The system will be set up so that busy business owners can swiftly complete all financial procedures via Jeonbuk Bank's mobile banking application "Sok Bank," without the need to visit both the bank and the guarantee institution. The Korea Credit Guarantee Fund plans to connect its non-face-to-face innovative guarantee certificate issuance system, "Easy One Service," with Jeonbuk Bank as part of this business agreement, allowing companies to access financial services more conveniently.

A representative from the Korea Credit Guarantee Fund stated, "Through cooperation with Jeonbuk Bank, we will work to establish a foundation for companies to grow stably and ensure that practical financial support is provided through collaboration with financial institutions."

A Jeonbuk Bank official said, "We will strive to provide prompt and secure loan consultations and financial services to SMEs and small business owners operating in challenging environments, all without the need to visit the bank or the credit guarantee fund in person. Going forward, we will continue to focus on delivering convenient digital-based services and expanding inclusive finance for local SMEs and small business owners facing difficult circumstances, as a regional bank."