Gwangju Bank Launches SME Retirement Pension Loan Support Program
Gwangju Bank announced on December 4 that it will officially launch the "SME Retirement Pension Loan Support Program" in collaboration with the Ministry of Employment and Labor and the Korea Credit Guarantee Fund to help local small and medium-sized enterprises (SMEs) introduce retirement pension schemes.
This program is a follow-up measure to the "Loan Support Business Agreement for the Promotion of Retirement Pensions," which was signed in May under the leadership of the Ministry of Employment and Labor, with Gwangju Bank and the Korea Credit Guarantee Fund as parties. The initiative is designed to ease the initial financial burden on companies implementing the system and to support the stable establishment of retirement pension plans.
For this program, Gwangju Bank contributed a special fund of 100 million won to the Korea Credit Guarantee Fund, which includes support for guarantee fees. Based on this, the bank will provide about 2.5 billion won in guaranteed loans. The core goal is to offer practical financial support so that local SMEs can introduce and operate retirement pension systems in a stable manner.
The loan product will provide working capital of up to 500 million won per company. Eligible applicants are SMEs that have newly introduced a retirement pension scheme after January 1 of the previous year and have maintained it for at least one month as of the date of guarantee application. However, for companies that have operated a retirement pension scheme for more than one year, there must be at least one record of contribution payment.
Hot Picks Today
At President Lee's Call to "Give Enough to Shock," Whistleblower Rewards Become a Real Lottery
- If a Samsung Electronics Employee with a 100 Million Won Salary Receives a 600 Million Won Performance Bonus, Taxes Total 247.19 Million Won
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- "4.15 Million Won Prada Jacket Shows White Spots After One Wear"...Korea Consumer Agency Orders Full Refund
A Gwangju Bank official stated, "We have established this support program to reduce the financial burden on local SMEs facing difficulties in introducing retirement pension schemes and to contribute to the wider adoption of the system," adding, "As the leading regional bank, we will further strengthen our support for SMEs and do our utmost to help create a stable environment for workers to prepare for retirement."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
