Kyongnam Bank Provides 333.5 Billion KRW in Emergency Financial Support for Flood Recovery

New Funding Support and Interest Rate Benefits
for Affected SMEs, Small Business Owners, and Individuals

On July 21, BNK Kyongnam Bank announced that it would provide emergency financial support totaling 333.5 billion KRW to aid recovery efforts from flood damage caused by heavy rainfall and other disasters.

The emergency financial support is available to small and medium-sized enterprises, small business owners, and individuals who have suffered property damage due to heavy rainfall or other flood-related disasters. Applicants must submit a 'Disaster Damage Confirmation Certificate' issued by the relevant local administrative office to the Kyongnam Bank branch in the affected area.

Recovery funds will be provided within the scope of the damage amount. Small and medium-sized enterprises can receive up to 500 million KRW in emergency operating funds, while individuals can receive up to 20 million KRW in emergency living funds. A special preferential interest rate of up to 1.0 percentage point will be offered at the discretion of the branch manager. In particular, for small business owners, loan conditions have been significantly relaxed, allowing unsecured and non-guaranteed credit loans of up to 20 million KRW at low interest rates.

Meanwhile, Kyongnam Bank dispatched the 'BNK Volunteer Group' to Uiryeong County, which was affected by heavy rainfall, to support flood recovery efforts. On July 20, more than 20 employees from the bank's headquarters departments and Uiryeong area branches participated in volunteer activities in Daeeui, Uiryeong, helping to clean up household goods from flooded homes and remove debris and mud. Starting with support activities in Uiryeong, Kyongnam Bank plans to expand its recovery assistance to other regions affected by torrential rains, such as Sancheong and Hapcheon, by dispatching additional volunteer groups and delivering relief supplies as soon as the extent of the damage is identified.

Lee Kwangjun, Executive Director of the Corporate Customer Group at Kyongnam Bank, said, "It was heartbreaking to see the severe flood damage caused by heavy rainfall in our region as a fellow member of the community. This emergency financial support has been specially prepared to provide practical assistance to local small and medium-sized enterprises, small business owners, and individuals affected by heavy rainfall and other flood disasters. BNK Kyongnam Bank will continue to strive to practice mutually beneficial finance as a leading financial institution in the region."