Agreement at Korea Shipping Association Busan Branch on the 21st
Up to 1 Billion KRW Loan Support and 1%p Interest Rate Reduction for Recommended Member Companies of Korea Shipping Association
On the 21st, BNK Busan Bank signed a 'Win-Win Growth Financial Support Agreement' with the Korea Shipping Association (KSA) at the Busan branch of the Korea Shipping Association. From the right in the photo: Son Dae-jin, Head of Credit Sales Division at Busan Bank, and Kim Chang-jin, Head of the Busan Branch of the Korea Shipping Association. Photo by Son Dae-jin
[Asia Economy Reporter Kangwook Cho] BNK Busan Bank announced on the 21st that it signed a 'Win-Win Growth Financial Support Agreement' with the Korea Shipping Association (KSA) at the Busan branch of the Korea Shipping Association.
The Korea Shipping Association, established in 1949, is a representative organization of the shipping industry that performs various shipping-related businesses such as management support services for the shipping industry, establishment of a global marine insurance system, and management and operation of passenger ship terminals. It is a non-profit special corporation.
The signing ceremony was held to provide practical financial benefits to member companies belonging to the Korea Shipping Association who are experiencing difficulties due to the deteriorating business environment caused by the domestic and international shipping recession, and to seek sustainable development directions for the marine industry in the future.
Through this agreement, the Korea Shipping Association agreed to deposit 3 billion KRW with Busan Bank, and Busan Bank will create a loan support fund with a total limit of 6 billion KRW to provide loans to member companies recommended by the Korea Shipping Association.
The loan limit is up to 1 billion KRW per company, and the loan interest rate will be applied with a 1.0%p reduction.
Son Dae-jin, Head of Credit Sales Division at Busan Bank, said, "Through this agreement, we will actively support coastal shipping companies, which are the foundation of the Busan regional economy, to carry out stable business activities," and added, "We will continue to be a reliable partner in the region contributing to revitalizing the local economy through various support policies for the development of the marine industry."
Meanwhile, Busan Bank signed a business agreement with the Korea Shipping Association last year to mutually cooperate in revitalizing the marine industry and enhancing competitiveness.
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