BNK Kyongnam Bank Partners with Korea Credit Guarantee Fund and Korea Technology Finance Corporation to Provide 100 Billion Won for Local Strategic Industries
A Total of 1 Billion Won in Guarantee Fee Support Funds Provided to Korea Credit Guarantee Fund and Korea Technology Finance Corporation
BNK Kyongnam Bank has partnered with Korea Credit Guarantee Fund and Korea Technology Finance Corporation to support a total of 100 billion won for local strategic industries and future strategic industries, as part of its initiative to expand productive finance.
On August 25, BNK Kyongnam Bank announced that it has signed the "Financial Business Agreement for Inclusive Finance and Local Industry Vitalization" with Korea Credit Guarantee Fund and the "Productive Financial Business Agreement for Fostering AtoF Future Strategic Industries" with Korea Technology Finance Corporation, respectively.
BNK Kyongnam Bank will contribute 500 million won each to Korea Credit Guarantee Fund and Korea Technology Finance Corporation, for a total of 1 billion won as guarantee fee support funds. The two guarantee institutions will use the funds from BNK Kyongnam Bank to provide "Guarantee Fee Support Program Guarantees" worth 50 billion won each, totaling 100 billion won.
In particular, BNK Kyongnam Bank will offer a 0.5 percentage point annual guarantee fee support for two years to companies utilizing the Guarantee Fee Support Program, effectively easing the financial burden for SMEs in local strategic industries and future strategic industries.
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Hwang Jae-cheol, Deputy President of BNK Kyongnam Bank, stated, "Through the business agreements signed respectively with Korea Credit Guarantee Fund and Korea Technology Finance Corporation, we will continue to provide practical support so that SMEs with technological prowess and growth potential can reduce their financial burdens and advance to the next stage of growth. Moving forward, BNK Kyongnam Bank will strengthen continuous cooperation with various institutions, including Korea Credit Guarantee Fund and Korea Technology Finance Corporation, to smoothly supply funds to companies in local strategic and future strategic industries, actively putting productive finance into practice."
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