K Bank Launches 'Boss Guarantee Loan' with Gyeonggi Shinbo... Establishes Bi-Directional In-App Integration

Loan Limit Up to 50 Million Won, Minimum Interest Rate 4.41%
Non-Face-to-Face Loans Available on Both K Bank and Gyeonggi Shinbo Apps

K Bank (CEO Choi Woohyung) announced on May 20 that it has partnered with Gyeonggi Credit Guarantee Foundation (hereafter, Gyeonggi Shinbo) to launch the ‘Boss Guarantee Loan’ for individual business owners in the Gyeonggi region, and that the two institutions have established a ‘bi-directional in-app integration’ system.

Through this integration, customers can now complete the entire loan process—from application to execution—in one go, whether they access the K Bank application or Gyeonggi Shinbo’s Easy One app, without the hassle of switching apps or logging in again.

K Bank has enhanced the non-face-to-face process for guarantee loans through technological innovation. Previously, customers could apply for loans remotely, but verification of actual business operations required an on-site visit by a staff member from the local credit guarantee foundation.

This time, a GPS-based automated on-site inspection system has been introduced, further digitizing the verification process. If customers certify their location at their business premises using a smartphone and submit photos of the business site, every step—from document submission and on-site inspection to guarantee review—is processed remotely.

The Boss Guarantee Loan in the Gyeonggi region targets individual business owners with at least one year of business history and business premises within Gyeonggi Province. The loan limit is up to 50 million won, with a maximum loan term of five years (including a one-year grace period). As of today, the minimum interest rate is 4.41%.

K Bank’s guarantee loan business continues to show rapid growth. In the first quarter, the amount of guarantee loans issued reached approximately 170 billion won, a nearly ninefold increase compared to the same period last year. The outstanding loan balance also grew by more than 40% year-on-year to 480 billion won.

A K Bank representative stated, “This in-app integration is an example of improving the customer experience by organically connecting the channels of the bank and the foundation, allowing customers to conveniently access financial services on any platform. Moving forward, we will continue to introduce innovative products and services that enhance financial accessibility for small business owners by leveraging our technological capabilities.”

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