Gwangju Bank Launches 'Medical Partner Loan' for Healthcare Professionals

Customized Credit Loan Product for Hospital Opening and Operation Support
Loan Limit 400 Million KRW... Preferential Interest Rate of 1.50%P per Year Provided

Gwangju Bank launched a new credit loan product called 'Medical Partner Loan' on the 14th to reduce the burden of hospital openings and support stable operations. Photo by Gwangju Bank

Gwangju Bank (President Ko Byung-il) launched a customized credit loan product called ‘Medical Partner Loan’ on the 14th to reduce the initial burden for doctors opening hospitals and to support stable operations.

Eligibility for application includes doctors (including Korean medicine doctors), pharmacists, and veterinarians who are operating (or planning to operate) businesses in Gwangju, Jeonnam, and the metropolitan area (Seoul, Gyeonggi, Incheon).

The loan limit is up to 400 million KRW, and it is applied differentially depending on the specialized medical field, annual sales, and real estate ownership. The loan interest rates range from a minimum annual rate of 4.37% to a maximum of 7.60% for facility funds, and from a minimum annual rate of 4.79% to a maximum of 8.02% for operating funds.

Preferential interest rates of up to 1.50% per individual per year are available. ▲ 0.40% per year for merchant payment deposits ▲ 0.40% per year for medical insurance benefit deposits ▲ 0.20% per year for credit (check) card usage or new issuance ▲ interest rate benefits up to 0.50% per year based on internal group classification and credit rating can be provided.

Park Moon-soo, Head of Data Product Strategy Department at Gwangju Bank, said, “Following the previously launched ‘Medical Partner Account,’ we have released a credit loan product to ease transaction barriers for self-employed medical professionals,” adding, “We will continue to do our best to provide financial services that empower our customers.”