Gyeongnam Province-BNK Gyeongnam Bank, Special Financial Support Agreement to Revitalize Local Economy 'Gi-Up'

600 Billion KRW Scale to Overcome COVID-19 Damage and Revive Local Economy

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] Gyeongsangnam-do and BNK Gyeongnam Bank signed a financial support agreement worth 60 billion won on the 20th.

The agreement was made to support small businesses and small merchants affected by the novel coronavirus infection (COVID-19) and local micro-merchants.

Through the agreement, BNK Gyeongnam Bank will contribute 1.5 billion won to support small merchants affected by COVID-19 and 2.5 billion won to support micro small businesses and small merchants, providing a total guarantee fund of 60 billion won next month.

The guarantee will be operated with a limit of 100 million won per business for small merchants affected by COVID-19 and 50 million won per business for micro small merchants. It will support a 0.2% reduction in guarantee fees and interest rate cuts based on transaction performance.

Kim Kyung-soo, Governor of Gyeongsangnam-do, said, "Prescriptions should be provided urgently and when necessary, and I am grateful that BNK Gyeongnam Bank, as a local financial institution, has actively provided financial support during the crisis caused by COVID-19."