KB Kookmin Bank to Provide 15.2 Trillion Won in Support for SMEs and Small Business Owners Ahead of Chuseok

6.2 Trillion Won in New Loans, 9 Trillion Won in Extensions

Up to 1 Billion Won in Loans Per Business

On September 2, KB Kookmin Bank announced that it will provide financial support totaling 15.2 trillion won to small and medium-sized enterprises (SMEs) and small business owners experiencing management difficulties due to a temporary increase in funding demand ahead of the Chuseok holiday.

KB Kookmin Bank will supply a total of 15.2 trillion won, including 6.2 trillion won in new loans and 9 trillion won in loan extensions.

The maximum loan amount available is up to 1 billion won per company, within the necessary funding range for each business. To ease the financial burden of companies and small business owners, the bank will allow loan maturity extensions without requiring partial principal repayment and will also provide additional financial support such as deferral of installment payments.

In addition, the bank will offer an interest rate discount of up to 1.5 percentage points on new loans and loan extensions.

A KB Kookmin Bank official stated, "We prepared this support to help alleviate funding difficulties and enhance management stability for SMEs and small business owners facing cash flow challenges during Chuseok. We will continue to closely monitor financial needs on the ground and provide the necessary support moving forward."

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