NH Nonghyup Bank announced on April 22 that it will provide 180 billion KRW in financial support for the recovery of wildfire damage in the Yeongnam region.
The bank, in partnership with local governments, will offer 100 billion KRW in policy funds for small business owners, 70 billion KRW in emergency management stabilization funds for disaster-affected businesses, and 10 billion KRW in special emergency management funds for small business owners. These will be provided either interest-free or at low interest rates in the 1% range.
For farmers, residents, small business owners, and small and medium-sized enterprises who have received a “Damage Confirmation Certificate” from an administrative office, the bank will newly provide up to 100 million KRW in household funds and up to 500 million KRW in business and agri-food company funds.
For customers in wildfire-affected areas, credit card payments can be deferred for up to six months, and fees for deposit-related services, automated teller machines, and other services are being waived until the end of April.
Taeyoung Kang, President of NH Nonghyup Bank, said, "We would like to express our condolences to farmers, residents, and businesses suffering from the wildfires," and added, "As a national bank, NH Nonghyup Bank will fulfill its social role by providing full support for recovery and a return to daily life."
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