Gyeongnam Province Supports Deferred Repayment of Loans for Investment Companies

Interest-Free Loan Support for Businesses Purchasing Site Land, Applications Open Until the 17th

[Asia Economy Yeongnam Reporting Headquarters Reporter Park Saeyan] Gyeongsangnam-do announced on the 7th that it will grant a 6-month repayment deferral or extend the maturity for loans from the Investment Attraction Promotion Fund.

The province operates the Investment Attraction Promotion Fund to support interest-free loans for purchasing business site land, provide special support for large-scale research institutes, and offer rent support for investment companies within industrial complexes or national/public land.

This repayment deferral applies to companies in the province that received interest-free loans for purchasing business site land, allowing a 6-month deferral or maturity extension.

In the first half of last year, a 1-year repayment deferral was granted to companies affected by COVID-19 that received loan support.

With this measure, 10 companies eligible for fund loan support are expected to receive a total benefit of 4.1 billion KRW.

To receive deferral or extension, applications must be submitted to the relevant financial institution by the 17th.

After a document review process, eligible companies will be selected.