Kwangju Bank Launches Mutual Cooperation Loan Product for Regional Coexistence

Preferential Rates for SME Specialized Loans
Special Apartment Sales and Child-Rearing Products Also Available

Gwangju Bank building.

Gwangju Bank announced on the 18th that labor and management (Labor Union Chairman Park Man and Bank President Ko Byungil) have unveiled various new loan products, regional coexistence measures including preferential deposit interest rates, and other initiatives to reestablish its status as a leading regional bank and take a leap toward becoming a centennial institution.

To provide stable liquidity to local small and medium-sized enterprises and self-employed business owners, the bank launched the "Regional Coexistence SME Specialized Loan" in January, offering a preferential interest rate of up to 2.0%p per annum within a total limit of 500 billion KRW.

Through an agreement with the regional guarantee foundation, the "Business Robust Guarantee Special Loan," a special guarantee loan, offers a preferential interest rate of up to 1.9%p per annum within a total limit of 70 billion KRW.

Additionally, the bank has introduced the "Regional Coexistence Apartment Special Sale Loan," which provides a preferential interest rate of up to 1.3%p per annum within a total limit of 100 billion KRW, offering benefits to genuine homebuyers preparing to move or purchase a home in the spring season.

For the "I-Kium Installment Savings II," an essential financial product for child-rearing, the bank is running a promotion that offers a maximum preferential interest rate of 1.8%p per annum for the product and an additional 1.0%p per annum for event participation, resulting in a maximum annual rate of 5.8% (for a 3-year term, with a base rate of 3.0%). This event is receiving enthusiastic responses from local residents weary of low interest rates.

For more details about the products, customers can visit the nearest branch, the Gwangju Bank website, or contact the customer center.

Park Man, Chairman of the Gwangju Bank Labor Union, stated, "The labor and management of Gwangju Bank will work together to provide the best financial services to residents of Gwangju and Jeonnam," adding, "We will faithfully fulfill our role as a financial magnifier to support not only the financially underserved but also those in financial blind spots."