NongHyup Bank Partners with Korea Credit Guarantee Foundation to Support Small Business Financing

Special Contribution of 1.2 Billion Won for Small Business Owners in Livelihood-Suitable Industries
15 Billion Won in Financial Support Provided
1.9 Trillion Won in Planned Support with Korea Credit Guarantee Foundation This Year

NH NongHyup Bank announced on the 19th that it held an agreement ceremony with the Korea Credit Guarantee Foundation on the 18th at the K Bank headquarters in Jung-gu, Seoul, for 'Financial Support for Small Businesses and Small Merchants Engaged in Livelihood-Suitable Industries.' This agreement was signed to strengthen inclusive finance for small business owners.

Through this agreement, NongHyup Bank will make a special contribution of 1.2 billion won to the Korea Credit Guarantee Foundation and provide guaranteed loans totaling approximately 15 billion won to small business owners at its branches nationwide. This agreement-based loan program began on the 18th, and details such as limits and interest rates can be checked at branches across the country.

At the agreement ceremony for 'Financial Support for Small Businesses and Small Merchants Engaged in Livelihood-Suitable Industries' held on the 18th at K Bank headquarters in Jung-gu, Seoul, Taeyoung Kang, President of NongHyup Bank (from right), Youngjun Won, President of the Korea Credit Guarantee Foundation, and Woohyung Choi, President of K Bank, are posing for a commemorative photo. NongHyup Bank

Including this agreement, NongHyup Bank plans to provide a total of 1.9 trillion won in financial support with the Korea Credit Guarantee Foundation this year. The bank will also offer 2.6 trillion won in financial support in collaboration with the Korea Credit Guarantee Fund and the Korea Technology Finance Corporation. Notably, more than 60% of NongHyup Bank's branches are located outside the Seoul metropolitan area, and as a public finance specialist bank managing local government funds nationwide, this financial support is expected to alleviate funding difficulties for small business owners in financially underserved regions and contribute to revitalizing local economies.

Kang Taeyoung, President of NongHyup Bank, who attended the agreement ceremony, stated, "The national economy can only be revitalized if local small business owners thrive," and added, "NongHyup Bank will continue to practice finance based on mutual growth and inclusion, faithfully fulfilling its role as a partner to small business owners."

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