Busan to Inject 150 Billion Won for Small Businesses... Busan City Signs Agreement to Support 'Policy Funds'

Busan City, Busan Bank, and Credit Guarantee Foundation Join Forces for Win-Win Finance
"Resolving Small Business Owners' Management Difficulties, Boosting Regional Economic Vitality Expected"

Busan City (Mayor Park Hyung-jun) has decided to ignite the spark for economic vitality by providing policy funds worth 150 billion KRW to small business owners.

On the 3rd at 2 p.m., Busan City announced that it will sign a business agreement at the Busan Credit Guarantee Foundation to support policy funds for small business owners.

This business agreement involves Busan Bank contributing 10 billion KRW to the Busan Credit Guarantee Foundation to support policy funds for small business owners and self-employed individuals in order to alleviate their difficulties.

This agreement is one of the measures discussed at the 2025 Public-Private Joint Economic Meeting held on January 16 under the chairmanship of Mayor Park Hyung-jun, focusing on "Inclusive Finance and Win-Win Cooperation Activation of Local Financial Institutions," and it is significant in realizing win-win finance for revitalizing the regional economy by the banking sector.

Mayor Park Hyung-jun, Busan Bank President Bang Seong-bin, and Busan Credit Guarantee Foundation Chairman Seong Dong-hwa will attend the signing ceremony.

Once this business agreement is signed, Busan City, Busan Bank, and the Busan Credit Guarantee Foundation will cooperate to provide a total of 150 billion KRW in special funds for small business owners.

To implement the business agreement, Busan City will promote the contribution of guarantee funds and the input of secondary interest subsidy budgets, Busan Bank will handle special contributions and preferential interest rates, and the Busan Credit Guarantee Foundation will support credit guarantees based on the contributed funds.

Prior to the agreement, Mayor Park plans to visit the Busan Credit Guarantee Foundation’s City Hall branch to encourage employees in charge of supporting small business owners. After the signing ceremony, he will attend a livelihood stabilization meeting to directly meet small business owners who have overcome difficulties through city policy fund support and listen to their on-site voices.

The meeting will be attended by Mayor Park, Busan Bank Deputy CEO Kang Seok-rae, Busan Credit Guarantee Foundation Chairman Seong Dong-hwa, and seven representatives of small business owners who have overcome difficulties thanks to Busan City’s small business support policies, including the representative of the cooperative Ribbon.

The small business representatives will share cases of benefits from the small business support policies and propose on-site difficulties to Busan City.

Mayor Park Hyung-jun said, “The difficulties faced by local small business owners are likely to be greater amid uncertain economic conditions,” adding, “I hope to create a win-win relationship where small and medium-sized enterprises and small business owners grow as key players in the regional economy through continuous cooperation with the Credit Guarantee Foundation and the banking sector.”

In December last year, Busan City announced its policy fund support plan for this year worth 1.183 trillion KRW to resolve management difficulties of small and medium-sized enterprises and small business owners and to revitalize the regional economy.

Busan City Hall.