Kim Byung-hwan Visits KB Kookmin Bank Chungmuro Station Comprehensive Financial Center
Checks Status of Pre-Consultations for Banking Sector Small Business Financial Support
The Financial Services Commission announced that Chairman Kim Byung-hwan of the Financial Services Commission visited the KB Kookmin Bank Chungmuro Station Comprehensive Financial Center, a small business-dense area, on the 27th along with Cho Yong-byeong, Chairman of the Korea Federation of Banks, and Lee Hwan-joo, President of KB Kookmin Bank.
The government finalized the 'Banking Sector Small Business Financial Support Plan' and the 'Support Program for Closed Businesses' on the 24th. Accordingly, the banking sector began pre-consultations from that day to provide information on the programs, required preparation documents, and expected launch schedules so that small business owners can plan and prepare in advance for debt management and business closure.
Small business owners who visited the KB Kookmin Bank counter that day were normal customers without any arrears but sought consultations due to difficulties caused by recent sales declines and concerns about future business downturns. They received counseling on the customized debt adjustment (119Plus) program, which allows debt restructuring even before arrears occur on loans approaching maturity, and also made application reservations to receive information on future launch dates and possible visit schedules.
The small business owner in question is a small-scale corporate small business with six employees, who was not eligible for support under the existing Individual Business Loan 119 program but is expected to be newly included as a support target through the 'Banking Sector Small Business Financial Support Plan' and thus able to use the program.
Regarding the support program for closed businesses available for consultation from that day, the scope of support was expanded from prospective closed businesses to those already closed compared to the initial announcement, and a uniform grace period of two years will be granted to alleviate principal repayment burdens. There were inquiries from small business borrowers preparing for closure about eligibility for support and other matters.
Chairman Kim listened to the difficulties and management status of the small business owners during the consultations. He stated, "We will actively support the banking sector to ensure that the 'Banking Sector Small Business Financial Support Plan' and other measures prepared to reduce the financial burden on small business owners are implemented promptly and without any setbacks."
He also listened to the difficulties of the employees conducting consultations at the counter that day and expressed gratitude for their efforts. Since the consultation counter is the place where various support programs are actually delivered to customers, he urged thorough preparation to ensure substantial consultations. He requested the banking sector to actively promote the programs so that small business owners do not miss applying due to lack of awareness.
Chairman Cho, who visited the site together that day, emphasized, "We plan to proceed with the banking sector to ensure that the customized debt adjustment (119Plus), support program for closed businesses, Saessal Loan 119, and banking sector consulting measures, which were announced to be launched in April, are released on schedule without any disruption to support for small business owners."
President Lee said, "We are fully prepared at the counters to ensure smooth consultations for small business owners," and added, "To resolve the difficulties faced by small business owners, the banking sector will actively support not only proactive financial assistance but also various programs currently in operation, such as the visiting KB Soho Mentoring School, by discovering and promoting them together."
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