Busan Chamber of Commerce and Busan Bank Sign Special Financial Support Agreement Worth 350 Billion KRW

Busan Chamber Member Companies Get Up to 1.6% Preferential Interest Rate and Higher Loan Limits

KRW 50 Billion in Business Funds for Employees, Up to 0.5% Preferential Rate

Busan Chamber-Recommended Members, Up to KRW 3 Billion per Company

Busan Chamber of Commerce and Industry (Busan CCI) is joining hands with BNK Busan Bank to provide substantial financial support for its member companies.

On the 3rd, Busan CCI (Chairman Yang Jaesaeng) held a special financial support business agreement ceremony with BNK Busan Bank at the International Conference Room on the 2nd floor of Busan CCI. The event was attended by Chairman Yang Jaesaeng, Bank President Bang Seongbin, local business representatives, and about 20 other participants.

This agreement was made after Chairman Yang Jaesaeng, who has shown a strong commitment to resolving business difficulties since taking office, confirmed through on-site visits in May that the greatest demand from member companies was for financial support. In response, he requested special financial assistance from BNK Busan Bank to address this need.

According to a Busan CCI official, BNK Busan Bank responded proactively to Busan CCI’s request for special financial support in a spirit of cooperation with local businesses. As a result, the agreement was reached at an opportune time, just before the period when corporate fund disbursement peaks in the second half of the year.

Through this agreement, Busan CCI and BNK Busan Bank expect to facilitate financial support for member companies facing management difficulties, which will help alleviate the funding challenges of local businesses.

The support targets are Busan CCI member companies and executives or employees who have received a recommendation letter from Busan CCI. The main support measures include up to a 1.6% preferential interest rate and increased loan limits for corporate loans from BNK Busan Bank, as well as up to a 0.5% preferential interest rate and retirement pension information sessions for personal loans to executives and employees.

Yang Jaesaeng, Chairman of Busan CCI, stated, “Due to continued high interest rates and inflation in recent years, many local companies are struggling to survive rather than grow. I hope this special financial support with BNK Busan Bank will provide an opportunity for our member companies, the backbone of the local economy, to escape the pressure of funding shortages.”

Bang Seongbin, President of BNK Busan Bank, also expressed his commitment, saying, “I hope this financial support agreement will provide some strength to local small and medium-sized businesses suffering from a prolonged economic downturn. Busan Bank will continue to strengthen its role as the leading regional bank and be a reliable partner for the community.”

Busan Chamber of Commerce and Industry and Busan Bank are signing a special financial support agreement worth 350 billion won.