Gwangju Bank Makes Special Contribution for Win-Win Development of Small Businesses and Small Merchants

Gwangju Bank announced on the 22nd that it signed a “Special Contribution Financial Support Agreement for Small and Micro Enterprises with Gwangju Credit Guarantee Foundation for Mutual Growth” at its headquarters.

To expand financial support for small and micro enterprises in the Gwangju area facing difficulties due to the economic downturn, Gwangju Bank made a special contribution of 1 billion KRW to the Gwangju Credit Guarantee Foundation. Using this fund, the foundation pledged to provide a total of 15 billion KRW in special guarantees to help overcome the region’s challenges together.

The support targets small and micro enterprises located in Gwangju recommended by either Gwangju Bank or the Gwangju Credit Guarantee Foundation, with up to 200 million KRW provided per company. The loan period is up to five years, and the loan interest rate will be reduced by up to 1.2 percentage points.

Byung-il Ko, President of Gwangju Bank, said, “I hope this special guarantee will bring warm support to stabilize the management of small and micro enterprises in the Gwangju area who are struggling to secure funds amid the economic downturn at the end of the year.”