Korea Technology Finance Corporation and Korea Marine Equipment Association Sign Agreement: 250 Billion KRW Special Bank Loan and 50 Billion KRW Special Guarantee Loan
Busan Bank is working to revitalize the local economy by providing financial support to shipbuilding and marine equipment companies in the region that are currently facing difficulties in securing funds.
BNK Busan Bank (President Bang Sungbin) announced on the 14th that it had signed a “Mutual Growth Business Agreement for Strengthening the Competitiveness of Busan Shipbuilding and Marine Equipment Industry” at its headquarters with Korea Technology Finance Corporation and the Busan Shipbuilding and Marine Equipment Industry Cooperative Association.
Through this agreement, Busan Bank has prepared a special loan fund totaling 250 billion KRW. The eligible companies are 365 member companies of the Busan Shipbuilding and Marine Equipment Industry Cooperative Association, as well as companies in the shipbuilding and marine equipment sector that earn a certain percentage of their sales from shipbuilding companies.
In addition, for companies lacking sufficient collateral, the bank will make a special contribution of 2.5 billion KRW to Korea Technology Finance Corporation and separately support a special guarantee loan program worth 50 billion KRW.
The “Special Agreement Guarantee Loan” offers up to 500 million KRW per company over three years, applying a 100% guarantee rate and a 0.2 percentage point reduction in guarantee fees. In particular, if the “Special Agreement Guarantee Loan” is combined with the Busan City Innovation Growth Technology Fund, companies can receive an annual interest support of 0.8 percentage points for up to 300 million KRW per company over three years, thereby alleviating their financial burden.
Further details can be obtained at all Busan Bank branches and through the customer center.
Bang Sungbin, President of Busan Bank, who attended the signing ceremony, said, “It is very meaningful that the regional bank, national institutions, and associations have joined hands to support shipbuilding and marine equipment companies, which are a major foundational industry in the region,” and added, “As the leading regional bank, Busan Bank will spare no effort in supporting local companies.”
BNK Busan Bank is signing a business agreement with the Korea Technology Finance Corporation and the Busan Shipbuilding and Marine Equipment Industrial Cooperative to support local shipbuilding and marine equipment companies.
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