KakaoBank Signs Agreement with Credit Guarantee Foundations in Gyeongbuk, Incheon, Daejeon, and Gyeongnam

Continuing Support for Local Small Business Owners

KakaoBank announced on the 30th that it has signed a win-win guarantee business agreement with four regional credit guarantee foundations in Gyeongbuk, Incheon, Daejeon, and Gyeongnam. It plans to selectively provide focused support to target groups such as educational service industries, manufacturing industries, and startup companies.

The region-specific win-win guarantee products introduced through this agreement include four types: Gyeongbuk low birthrate overcoming and childcare support loans, Incheon manufacturing interest support loans, Daejeon startup growth loans, and Gyeongnam win-win loans.

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KakaoBank, together with the Gyeongbuk Credit Guarantee Foundation, will support a 50 billion KRW scale agreement guarantee. The support targets are individual business owners located in Gyeongbuk Province whose representatives are newlyweds or expecting childbirth, classified as 'birth support companies,' or businesses in the food service and educational service industries with on-site childcare facilities, classified as 'childcare environment creation companies.' The loan limit per company is up to 100 million KRW.

KakaoBank is the only internet-only bank participating as a handling institution in the Incheon manufacturing interest support loan, which is supported by the Incheon Credit Guarantee Foundation with a scale of 10 billion KRW. The support targets are companies operating manufacturing businesses in Incheon City, with a loan limit per company of up to 100 million KRW.

Startup companies in the Daejeon area can receive preferential loan limits. The Daejeon Credit Guarantee Foundation introduces the Daejeon startup growth loan, supporting a 7.5 billion KRW agreement guarantee funded by 500 million KRW specially contributed by KakaoBank. The support targets are companies located in Daejeon City, with preferential loan limits for companies less than three years old. The loan limit per company is up to 50 million KRW.

Following last year, the Gyeongnam Credit Guarantee Foundation agreement product was also launched. Through the agreement, KakaoBank will make a special contribution of 300 million KRW to the Gyeongnam Credit Guarantee Foundation this year, which will use it as funds to support a 4.5 billion KRW agreement guarantee. The support targets are individual business owners located in Gyeongnam Province whose representatives have a personal credit score of 780 or higher (based on NICE credit score). The loan limit per company is up to 100 million KRW.

A KakaoBank official said, "This product was planned to alleviate the financial burden of local small business owners who urgently need support, such as newlyweds, entrepreneurs, and manufacturing workers," adding, "We will continue to lead inclusive finance by signing agreements with various regional credit guarantee foundations so that more small business owners can enjoy practical benefits."