Ministry of SMEs and Startups, Credit Guarantee Foundation, Korea Federation of SMEs, and Korea Federation of Small and Medium Business
Hold Cooperation Agreement Ceremony
NH NongHyup Bank announced on the 15th that it held a ceremony at the SME DMC Tower in Mapo, Seoul, signing a cooperation agreement with the Credit Guarantee Foundation, the Ministry of SMEs and Startups, the Korea Federation of SMEs, and the Korea Federation of Small and Medium Business to support financing for small enterprises and small business owners to revitalize the local economy.
On this day, the event was attended by Kang Taeyoung, President of NongHyup Bank, as well as executives and employees of NongHyup Bank, Oh Kiwoong, Executive Vice Chairman of the Korea Federation of SMEs, Song Chiyoung, President of the Korea Federation of Small and Medium Business, Lee Soonbae, Director General for Global Growth Policy at the Ministry of SMEs and Startups, Won Youngjun, President of the Credit Guarantee Foundation, and the chairpersons of 17 regional credit guarantee foundations. During the event, participants shared the current status of NongHyup Bank's financial support for small business owners and discussed cooperation measures to support small businesses.
NongHyup Bank held a ceremony on the 15th at the SME DMC Tower in Mapo, Seoul, signing a cooperation agreement with the Credit Guarantee Foundation, Ministry of SMEs and Startups, Korea Federation of SMEs, and Korea Federation of Small and Medium Business to support financing for small enterprises and small business owners to revitalize the local economy, followed by a commemorative photo session. NH NongHyup Bank
Through this agreement, NongHyup Bank will make a special contribution of 1 billion KRW to the Credit Guarantee Foundation and 5.2 billion KRW to 17 regional credit guarantee foundations nationwide, totaling 6.2 billion KRW, to support guarantee loans of approximately 90 billion KRW. The Credit Guarantee Foundation will launch a new guarantee product for micro-business owners under this agreement, while each regional credit guarantee foundation will develop and operate products tailored to the characteristics of their respective regions. NongHyup Bank also plans to provide financial support amounting to 1.9 trillion KRW with the Credit Guarantee Foundation and 2.6 trillion KRW with the Credit Guarantee Fund and the Korea Technology Finance Corporation this year.
President Kang, who participated in the signing ceremony, stated, "Only when small business owners, the heart of the local community, thrive, can local governments and the national economy be revitalized. NongHyup Bank will continue to discover promising small enterprises and provide practical financial support to pursue mutual growth with our customers."
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