Injecting 100 Billion Won into Export Companies... BNK Busan Bank Launches Emergency Financial Support

2% Interest Subsidy Applied,
Reducing the Burden of Raw Material and Exchange Rate Fluctuations

BNK Busan Bank (headed by CEO Kim Sungjoo) is stepping up to support export companies facing difficulties due to global supply chain disruptions and rising raw material prices.

On May 8, Busan Bank announced that it will provide a total of 100 billion won in specialized loans for import and export companies. This is an extraordinary measure to ease the funding difficulties of companies whose management burden has increased due to prolonged instability in the Middle East and greater volatility in international oil prices.

This loan program will be operated in conjunction with Busan Metropolitan City using an interest subsidy method. Part of the interest will be subsidized to lower the actual financial costs for companies.

The support is available to companies that have received a 'Specialized Fund Loan Recommendation Letter for Joint Raw Material Purchases,' issued by Busan Metropolitan City. Any company located in Busan that has export or import records within the past six months is eligible to apply.

The maximum loan amount is up to 800 million won per general company, and up to 1 billion won per "Prestigious Local Company." Busan Metropolitan City will subsidize 2.0 percentage points of interest, thereby reducing the burden of raising funds.

Busan Bank has reportedly expanded its support, judging that it is urgent for companies to secure liquidity amid simultaneous increases in raw material prices and exchange rate volatility.

Kim Youngjun, Head of Corporate Client Group at Busan Bank, stated, "The burden on local companies has increased due to the recent deterioration in the external environment," adding, "We hope this financial support will help stabilize company management." He also emphasized, "We will continue to provide financial support to underpin the sustainable growth of local companies."

BNK Busan Bank Headquarters

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