Up to 30 million won supported at an annual rate of 1.5%
BNK Kyongnam Bank has announced an emergency financial support plan to assist local merchants affected by the fire at Masan Fish Market and Fruit and Vegetable Market.
On the 6th, BNK Kyongnam Bank stated that it will provide 'Emergency Business Stabilization Funds for Small Business Owners' to merchants who suffered losses due to the fire at Masan Fish Market and Fruit and Vegetable Market.
To ensure swift recovery from the fire damage and provide practical assistance to affected merchants, BNK Kyongnam Bank has specially prepared a total of 1 billion KRW in business stabilization funds.
Up to 30 million KRW will be provided at an annual interest rate of 1.5% to each of the 28 stores that suffered losses in the fire at Masan Fish Market and Fruit and Vegetable Market.
The repayment method is equal principal and interest payments over five years, with the option to pay only interest for up to one year.
The designated branch for support is the BNK Kyongnam Bank Changdong Branch, which is near Masan Fish Market. If merchants already have an account with another BNK Kyongnam Bank branch, they can also apply at their existing branch.
Park Sangho, Executive Director of the Customer Marketing Division, said, "It was heartbreaking to see the fire at Masan Fish Market and Fruit and Vegetable Market just before the Chuseok holiday as a member of the local community. I hope this proactive and active emergency business stabilization fund will be helpful to the affected merchants. BNK Kyongnam Bank will continue to pay close attention to the recovery efforts."
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