Sangju City and Financial Institutions Sign 1:1 Matching Special Guarantee Agreement for Small Businesses

Sangju City and Financial Institutions Match KRW 1.5 Billion Each
Aiming for 50% Increase in Support for Small Businesses

Sangju City, North Gyeongsang Province, signed a 'Special Guarantee Matching Contribution Agreement for Small Business Hope Dream' with local financial institutions on March 3, 2026, to expand financial support for local small business owners.

The signing ceremony was attended by Youngseok Kang, Mayor of Sangju; Seokwon Jeong, Head of the Business Support Division at Gyeongbuk Credit Guarantee Foundation; Yongtaek Kim, Head of the Sangju Branch of NH Nonghyup Bank; Seongcheon Hong, Head of the Sangju Branch of KB Kookmin Bank; Jeonghwa Cha, Head of the Sangju Branch of iM Bank; Chunok An, Chairman of Sangsansae Maeul Geumgo; Insu Jang, Chairman of Saesangju Sae Maeul Geumgo; Soonsang Lim, Chairman of Hamchang Sae Maeul Geumgo; and Jeonghwa Yoo, Chairman of Hwaryeong Sae Maeul Geumgo.

Signed a 'Small Business Hope Dream Special Guarantee Matching Contribution Agreement' with local financial institutions / Photo by Lee Ihwan

Until now, Sangju City had been providing support using its own budget, but since 2025, it has expanded support for small business owners through a 1:1 matching agreement with local financial institutions. In particular, for 2026, the city plans to further increase the scale of 1:1 matching with financial institutions, aiming to boost support for small businesses by more than 50% compared to the previous year.

Under this agreement, Sangju City will contribute KRW 1.5 billion, NH Nonghyup Bank KRW 500 million, KB Kookmin Bank KRW 500 million, iM Bank KRW 300 million, and MG Saemaeul Geumgo KRW 200 million to the Gyeongbuk Credit Guarantee Foundation. With this total contribution of KRW 3 billion, the plan is to implement a loan guarantee project totaling KRW 36 billion through the Gyeongbuk Credit Guarantee Foundation.

An official from Sangju City stated, "Thanks to the cooperation of local financial institutions, we are able to expand support for small business owners while minimizing the city's own budget input. We are grateful to the financial institutions for actively participating for the benefit of local small businesses. Going forward, we will continue to expand tailored support policies to help stabilize management and strengthen the competitiveness of small business owners, and we will persistently pursue support projects to greatly contribute to revitalizing the local economy."

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