NH Nonghyup Bank Supports Shinbo Agreement Guarantee Loans

140 Billion Won Contribution

NH Nonghyup Bank and the Korea Credit Guarantee Fund announced on the 28th that they signed a "Financial Support Agreement for Future Growth Promising Companies and Dynamic Economy Leading SMEs" at the Nonghyup Bank headquarters in Jung-gu, Seoul.

With Lee Seok-yong, President of Nonghyup Bank, and Choi Won-mok, Chairman of the Korea Credit Guarantee Fund, in attendance, this agreement aims to expand financial support for SMEs leading in the fields of innovative growth and ESG (Environmental, Social, and Governance) management. Nonghyup Bank will contribute 14 billion KRW, and the Korea Credit Guarantee Fund will use this as a resource to provide funding worth 600 billion KRW.

The target companies for support include those engaged in new growth engine industries, companies with ESG management capabilities, promising startups, export companies, and employment-creating companies.

The Korea Credit Guarantee Fund will apply a 100% guarantee ratio for three years to companies under the special contribution agreement guarantee and provide a 0.2 percentage point discount on guarantee fees. Additionally, a 0.5 percentage point guarantee fee will be supported for two years under the guarantee fee support agreement. Nonghyup Bank also plans to offer preferential interest rates up to 2.0 percentage points depending on the transaction status of companies under the agreement guarantee.

Lee Seok-yong, President of Nonghyup Bank, said, "Through this business agreement, we will help SMEs enter new growth industries and expand financial support so that they can grow into representative companies of Korea," adding, "Nonghyup Bank will continue to do its best for the growth of SMEs."

From the left, Jeong Hyun-ho, Head of Credit Guarantee Department at Korea Credit Guarantee Fund; Yoon Jeong-in, Policy Advisor at Korea Credit Guarantee Fund; Choi Won-mok, Chairman of Korea Credit Guarantee Fund; Lee Seok-yong, President of NongHyup Bank; Choi Young-sik, Vice President of Corporate Finance Division at NongHyup Bank; and Park Jae-myung, Head of SME Customer Department at NongHyup Bank are taking a commemorative photo.
[Photo by NH NongHyup Bank]