KB Kookmin Bank Provides Emergency Support to Small Businesses Affected by Fire at Factory in Wanggil-dong, Incheon

KB Kookmin Bank is launching emergency support for small business owners affected by the factory fire in Wanggil-dong, Incheon.

On the 23rd, KB Kookmin Bank announced that it will provide emergency living stabilization funds to help restore damaged facilities and ease the financial burden on disaster victims. The support amount will be up to KRW 20 million for personal loans within the damage scale, up to KRW 500 million for working capital business loans, and facility funds will be provided within the required amount for restoring damaged facilities. A special preferential interest rate of up to 1.0 percentage point will also be applied to corporate loans.

Additionally, for affected customers holding loans with upcoming maturities, loan extensions are possible without additional principal repayment by applying preferential interest rates of up to 1.5 percentage points for household loans and up to 1.0 percentage point for corporate loans. If principal and interest are paid normally within three months from the date of damage, overdue interest will be waived.

The support targets customers who have confirmed actual disaster damage from this fire, and they must submit a 'Damage Confirmation Certificate' issued by the local administrative office to the bank. The application period for support is within three months from the date of damage.

A KB Kookmin Bank official said, "We decided to provide emergency support to quickly assist small business owners in the Wanggil-dong factory complex who are facing difficulties due to the sudden fire," adding, "We hope this support will be a practical help in overcoming the damage and that small business owners will recover to their daily lives as soon as possible."