BNK Gyeongnam Bank to Provide 30 Billion KRW for "Changwon City Co-Prosperity Loan"

Established to Support Local Small and Manufacturing Businesses
Facing Financial Challenges in Fund Management

BNK Gyeongnam Bank announced on August 21 that it plans to provide support for the "Changwon City Co-Prosperity Loan" with a total fund of 30 billion KRW.

Gyeongnam Bank Headquarters.

The Co-Prosperity Loan, which will be jointly supported with Changwon Special City, has been specially prepared to assist local small and manufacturing businesses facing financial challenges due to the high tariff measures imposed by the United States.

BNK Gyeongnam Bank will provide funding up to a limit of 30 billion KRW using the cooperation funds established by Changwon City, and will apply interest rate reductions.

Eligible recipients include steel, aluminum, copper, and related derivative product manufacturers located in Changwon City that have exported to the United States within the past three years, as well as partner companies that have supplied parts or raw materials to U.S. export companies.

Each company can receive up to 300 million KRW, and with deposit reductions and additional discounts, a maximum annual interest rate reduction of 3.06% can be applied.

In particular, the Changwon City Co-Prosperity Loan is designed to not only provide new funds, but also to allow for refinancing of existing high-interest loans at lower rates, reflecting the needs of the companies that are the policy's target beneficiaries.

Lee Kwangjun, Executive Director of the Corporate Customer Group, stated, "We expect the Changwon City Co-Prosperity Loan to provide substantial assistance to local small and manufacturing businesses. We are working in cooperation with Changwon City to ensure the swift and prompt provision of this loan. Going forward, BNK Gyeongnam Bank will continue to partner with Changwon City to introduce various measures to revitalize the local economy."

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