Busanjin-Hae Economic Free Zone Authority Signs Financial Support Agreement for Foreign Workers with BNK Gyeongnam Bank

Financial Support for Foreign Workers at Companies in the Economic Free Zone
Unsecured Credit Loans and Preferential Interest Rates Now Available

The Busanjin-Hae Economic Free Zone Authority (Commissioner Sung Ho Park) is partnering with BNK Gyeongnam Bank to provide financial support services for foreign workers.

On August 29 at 11:00 a.m., the Authority announced that it had signed a "Financial Business Agreement for Foreign Workers" in the main conference room, together with the Resident Companies Council and BNK Gyeongnam Bank, aiming to improve the living environment and economic stability of foreign workers.

The signing ceremony was attended by Sung Ho Park, Commissioner of the Authority; Tae Han Kim, President of BNK Gyeongnam Bank; the Head of Personal Customer Group; the Head of Personal Customer Department; the Director of Yongwon Financial Center; and Jung Won Lee, Deputy Secretary General of the Resident Companies Council, who all expressed their commitment to strengthening cooperation among businesses, institutions, and the financial sector.

(From left) Jin Yong Park, Head of Personal Customer Department; Young Soo Kim, Director of Yongwon Financial Center; Eung Il Hong, Head of Personal Customer Group; Tae Han Kim, President of BNK Gyeongnam Bank; Jung Won Lee, Deputy Secretary General of Resident Companies Council; Sung Ho Park, Commissioner of Busanjin-Hae Economic Free Zone Authority; Dong Sik Heo, Head of Development Headquarters; Head of Corporate Support Department.

This agreement is a follow-up measure based on suggestions raised by resident companies during the first Corporate Field Forum, held in June under the theme of "Support Policies for the Supply and Settlement Environment of Foreign Workers in Busan and Gyeongnam."

After the forum, the Authority consulted with BNK Gyeongnam Bank and proposed the development of exclusive financial products for foreign workers employed at companies within the economic free zone. This led to the launch of loan products offering practical benefits, such as preferential interest rates.

The Authority plans to cooperate with BNK Gyeongnam Bank by supporting future product promotions and facilitating connections between institutions to ensure the best possible financial services. With this agreement, foreign workers employed at companies within the economic free zone will have access to more stable financial services, which is also expected to have a positive impact on their settlement and overall stability.

Tae Han Kim, President of BNK Gyeongnam Bank, stated, "As the region's leading financial institution, BNK Gyeongnam Bank will enhance the competitiveness of resident companies and support foreign workers so that they can become important members of our local community and live stable lives."

Sung Ho Park, Commissioner of the Authority, emphasized, "This agreement goes beyond simply launching financial products. It is a policy-driven cooperation model that can enhance the settlement stability of foreign workers and help address labor shortages for companies. We will continue to identify practical support measures through collaboration among resident companies, financial institutions, and related organizations."