The four major banks in the market (KB Kookmin, Shinhan, Hana, and Woori) announced that they have completed about 90% of the livelihood financial support measures by the third quarter of this year.
The livelihood financial support measures by the banking sector are being carried out through a common program that refunds interest to self-employed and small business owners, and voluntary programs by each bank to support financially vulnerable groups.
KB Kookmin Bank announced on the 1st that it has executed a total of 329.2 billion KRW out of the largest livelihood financial support plan in the banking sector worth 372.1 billion KRW by the third quarter.
A KB Kookmin Bank official stated, "We will do our best to ensure that the voluntary program prepared to share the pain and benefits with vulnerable groups and financial consumers is promptly supported within the year."
On the same day, Hana Bank announced that it has completed execution of 332.4 billion KRW out of the 355.7 billion KRW livelihood financial support plan announced last January. This figure combines 199.3 billion KRW from the common program and 133.1 billion KRW from the voluntary program, achieving a total implementation rate of 93.4% in just three quarters.
Earlier, Shinhan Bank also announced that it has completed execution of 260 billion KRW, which corresponds to 84.8% of the total 306.7 billion KRW livelihood financial support planned for this year.
The completed amount includes 190.4 billion KRW from the common program and 69.6 billion KRW from the voluntary program.
Woori Bank also announced that it has supported 264.4 billion KRW out of the 275.8 billion KRW livelihood financial support plan announced last March, achieving a 96% execution rate by the end of September.
A Woori Bank official said, "We plan to continuously introduce products and services that can provide practical help to financially vulnerable groups," adding, "We will faithfully carry out the ongoing livelihood financial support until the end of the year and take the lead in win-win finance."
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