NongHyup Bank Provides 1.3 Trillion Won in Financial Support to SMEs and Small Business Owners

Special Contributions with 17 Regional Credit Guarantee Foundations Nationwide
Support for SMEs and Small Business Owners Facing Management Challenges

NH Nonghyup Bank announced on the 11th that it will provide financial support worth approximately 1.3 trillion KRW, funded through special contributions from 17 credit guarantee foundations nationwide, to help alleviate management difficulties and support the growth of small and medium-sized enterprises (SMEs) and small business owners.

Earlier this year, Nonghyup Bank signed business agreements with five regional credit guarantee foundations (Gyeongbuk, Chungbuk, Gangwon, Daejeon, Gwangju). In February, it plans to sign agreements with 12 additional regional credit guarantee foundations.

The financial support will be supplied through local government agreement loans and policy fund loans for small business owners, and is expected to contribute to easing the management difficulties of SMEs and small business owners nationwide.

Nonghyup Bank is making the largest special contributions among banks to credit guarantee foundations for small business owners lacking collateral. It also provides non-financial services such as management consulting support.

Kang Tae-young, President of Nonghyup Bank, stated, “The core value of Nonghyup Bank is mutual growth with customers, and we will continue to expand warm financial support for SMEs and small business owners facing difficulties.”