Busan and Kyongnam Banks Prepare 1.6 Trillion Won in Special Funds for Chuseok Holiday

Joint Support for BNK 2025 Chuseok Special Loans
Up to 3 Billion Won and 1% Interest Rate Reduction for Local Businesses

BNK Financial Group announced on September 1 that Busan Bank and Kyongnam Bank will provide a total of 1.6 trillion won in "BNK 2025 Chuseok Special Loans" to support local small and medium-sized enterprises (SMEs) and small business owners during the Chuseok holiday.

This Chuseok Special Loan aims to alleviate funding difficulties for local SMEs facing business challenges due to economic downturn, lack of liquidity, and declining sales, as well as to revitalize the local economy. The support will be available for approximately two months, from September 1 to October 31, with each bank offering 800 billion won (400 billion won in new loans and 400 billion won in loan extensions), totaling 1.6 trillion won.

The main beneficiaries include long-term partner SMEs, local startups, technology-driven SMEs, companies creating local jobs, SMEs operating in strategic industries designated by local governments, and companies with a strong repayment record.

The maximum loan limit per company is 3 billion won, and up to a 1.0 percentage point interest rate reduction will be offered to help local SMEs reduce financial costs.

Further details about the Chuseok Special Loan can be found at all branches and customer centers of Busan Bank and Kyongnam Bank.

A BNK Financial Group representative stated, "We hope this special loan will support local small business owners struggling with ongoing economic stagnation," adding, "BNK Financial Group will continue to do its best as a leading financial institution in the region."