iM Bank Launches Financial Support for Wildfire-Affected Businesses and Disaster Victims

iM Bank announced on the 26th that it will implement a financial support program for businesses and individuals affected by the large wildfires in the Gyeongnam and Gyeongbuk regions.

For confirmed affected small and medium-sized enterprises (SMEs) and small business owners, iM Bank will provide new loans totaling 200 billion KRW and offer special interest rate discounts of up to 1.5 percentage points. Extensions of existing credit maturities and principal repayment deferrals for installment loans will also be available for up to 12 months.

For confirmed affected individuals, the bank plans to offer emergency living stabilization loans totaling 100 billion KRW and preferential interest rates based on credit ratings to reduce financial costs.

To receive financial support for damages caused by natural disasters, affected parties must obtain a ‘Disaster Damage Confirmation Certificate’ issued by the relevant local government office and visit the nearest iM Bank branch for consultation.

Hwang Byung-woo, President of iM Bank, stated, “We extend our deepest condolences to the local communities and affected businesses suffering from the unexpected fire damage, and we will provide diverse and practical support to help them return to a stable daily life as soon as possible.”