Busan·Gyeongnam Bank, 1.6 Trillion KRW Special Chuseok Fund Support

[Asia Economy Reporter Kim Hyo-jin] BNK Financial Group announced on the 20th that its affiliate banks, Busan Bank and Gyeongnam Bank, will provide a total of 1.6 trillion KRW in 'BNK COVID-19 Overcome Chuseok Special Loans' to local small and medium-sized enterprises (SMEs) and small business owners in celebration of the Chuseok holiday.

Both banks will support a total of 1.6 trillion KRW, with 800 billion KRW each (4 trillion KRW in new loans and 4 trillion KRW in loan extensions), from today until October 19, to alleviate financial difficulties faced by local SMEs struggling due to the prolonged COVID-19 pandemic and regional economic downturn, and to revitalize the local economy.

The support targets include local start-up companies, SMEs with long-term transactions with both banks, companies creating local jobs, companies with excellent technological capabilities, SMEs engaged in local government strategic industries, and ESG-excellent companies.