Gyeongbuk Shinbo Offers Special Guarantees of 30 Million Won for Gimcheon Small Businesses and 50 Million Won for Young Entrepreneurs

Gimcheon City to Subsidize 3% Interest for Two Years

On February 9, the Gyeongbuk Credit Guarantee Foundation (Gyeongbuk Shinbo) signed the "2026 Gimcheon City Small Business Special Guarantee Financial Business Agreement" to provide financial support for small business owners in the Gimcheon area who are experiencing difficulties in raising funds due to the economic downturn.

Under the agreement, financial institutions will contribute funds (500 million won from NongHyup Bank, 150 million won from Shinhan Bank, and 100 million won from iM Bank), which Gimcheon City will match on a 1:1 basis, bringing the total to 1.5 billion won. In addition, Gimcheon City will contribute an extra 500 million won, securing a total guarantee fund of 2 billion won. Gyeongbuk Shinbo will provide credit guarantees worth 24 billion won, which is 12 times the contributed amount.

Kim Junggon, Chairman of Gyeongbuk Shinbo (second from the left), and Bae Nakho, Mayor of Kimcheon (third from the right), are holding a signing ceremony for a KRW 24 billion special guarantee business agreement.

The "2026 Gimcheon City Small Business Special Guarantee" is available to small business owners whose place of business is located in Gimcheon City as of the application date and who have completed business registration. The maximum guarantee limit is 30 million won, with preferential support of up to 50 million won for young entrepreneurs.

In addition, Gimcheon City will subsidize 3% interest for two years, allowing users to access guarantee products at low interest rates. Small business owners currently using high-interest loan guarantees can switch to low-interest loans through the special guarantee (3% support for two years) via refinancing guarantees.

Small business owners who prefer non-face-to-face applications can apply through the Bojeung Dream (APP), while face-to-face applications are available after making a consultation reservation via the Gyeongbuk Credit Guarantee Foundation website or the AI call center.

Kim Junggon, chairman of Gyeongbuk Shinbo, said, "This year, by expanding contributions through a 1:1 matching method, we are able to operate the program at a total scale of 24 billion won, which is twice as large as last year," adding, "We will continue our efforts to ensure that more small business owners can benefit through ongoing communication and cooperation with 22 cities and counties in the province and with financial institutions."

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