NH Nonghyup Bank Contributes 10 Billion Won to Regional Credit Guarantee Foundations to Support Local Businesses

A Special Contribution of 10 Billion Won to Regional Credit Guarantee Foundations Nationwide


“A Significant Boost for the Establishment and Growth of Village Enterprise Policies”

NH Nonghyup Bank announced on August 13 that it will provide a total of 10 billion won in special contributions to regional credit guarantee foundations nationwide, promoting customized financial support amounting to 150 billion won to help revitalize local economies.

The bank will sign individual agreements with local governments and regional credit guarantee foundations to implement financial support that reflects the unique characteristics and local demand of each region. For regional companies struggling with high interest rates, the interest burden can be reduced through interest subsidies connected with local government agreement loans.

In particular, the village enterprise system, which had previously operated only under existing guidelines, has acquired a legal basis this month with the enforcement of the “Act on the Fostering and Support of Village Enterprises.” NH Nonghyup Bank commented that this is expected to greatly contribute to the establishment and growth of village enterprise policies.

Tae Young Kang, CEO of NH Nonghyup Bank, emphasized, “We hope that this 150 billion won financial support initiative will provide a solid foundation for the sustainable growth of village enterprises and local-based businesses, which are the backbone of the regional economy.”

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