Korea National Oil Corporation "Extension of Payment Deadline to 28 Days and Interest Reduction for Credit Transactions at Budget Gas Stations"

[Asia Economy Reporter Kim Bo-kyung] Korea National Oil Corporation has launched support activities to extend the repayment period for credit transactions and reduce interest for more than 400 Altteul gas stations nationwide.

The Oil Corporation announced on the 7th that it will implement measures to ease the operational burden of Altteul gas stations facing financial difficulties due to the prolonged COVID-19 pandemic.

For Altteul gas stations that have credit transactions with the corporation, the repayment period for credit transaction payments will be extended from 14 days to 28 days, and the interest incurred from these transactions will be waived. This support plan will continue for six months until September.

Additionally, on the same day, the corporation held a delivery ceremony at Ulsan Sincheon Altteul Gas Station to provide customer hand sanitizers to 125 gas stations with an average monthly sales volume of 200,000 liters or less.

Lee Eui-seong, Director of the Distribution Business Division, said, "This support aims to alleviate the operational burden of Altteul gas station operators who are facing difficulties, even if only a little. The corporation will actively participate in various efforts to help business operators struggling due to COVID-19."

Since last month, the Oil Corporation has carried out various support activities, including donating 200 million won in cash to Daegu and Ulsan regions, providing 900 lunch boxes to screening clinics, and delivering 200 agricultural product packages to underprivileged neighbors in Jung-gu.