JB Financial, COVID-19 Emergency Response System

[Asia Economy Reporter Kim Min-young] JB Financial Group has launched an emergency response system for the novel coronavirus infection (COVID-19).

According to JB Financial on the 25th, all employees at all branches of Jeonbuk Bank and Gwangju Bank are currently required to wear masks, and hand sanitizers are provided inside the customer areas. Additionally, thermal detectors have been installed in the bank headquarters' lobby, and surveillance personnel are stationed at all times to strengthen quarantine management. Along with this, video conferencing will be actively utilized for board meetings and other work-related meetings.

Funds will also be provided to minimize damage to local small business owners. Jeonbuk Bank has decided to inject emergency management stabilization funds totaling 100 billion KRW, with a maximum limit of 500 million KRW per company. In particular, small and medium-sized enterprises and individual business owners affected by COVID-19 in sectors such as travel, accommodation, restaurants, and import/export will receive interest rate benefits of up to 1.0%. For affected customers holding loans maturing soon, the maturity will be extended without separate principal repayment, and installment payment deferrals will also be granted.

Gwangju Bank has also launched special financial support targeting small and medium-sized enterprises and individual business owners expected to be affected. Emergency management stabilization funds totaling 100 billion KRW (50 billion KRW for new support and 50 billion KRW for maturity extension) will be injected, with a maximum limit of 500 million KRW per company. A special preferential interest rate of up to 1.3 percentage points will also be applied.

Furthermore, for affected customers holding loans maturing soon, the maturity will be extended without separate principal repayment by applying a 1 percentage point reduction in loan interest rates, and installment payment deferrals will be implemented.

To help alleviate the blood shortage crisis, Gwangju Bank held a blood donation sharing event with employees, Gwang-eun Business, and tenant company staff. More than 100 employees actively participated in the blood donation event.

JB Woori Capital also formed an emergency response committee. Monitoring the COVID-19 situation, they have established plans to secure personnel for measures such as managing employees absent due to infection. Thermometers have been distributed to each department, and all employees measure and record their temperature twice a day to ensure thorough prevention.