JB Financial Group to Provide 1.1 Trillion Won in Chuseok Special Funds

Half for New Loans, Half for Maturity Extensions
Preferential Rates for SMEs and Small Business Owners

JB Financial Group will provide special funds for small and medium-sized enterprises (SMEs) and small business owners ahead of the Chuseok holiday. Jeonbuk Bank will offer a total of 500 billion won in "Chuseok Special Operating Funds" to SMEs and individual business owners until October 21, ahead of the Chuseok holiday.

This special funding consists of 250 billion won in new loans and 250 billion won in loan maturity extensions, totaling 500 billion won. The support targets include commercial bill discounts and operating funds with maturities of up to one year, covering both new operating loans and maturity extensions for existing SME loans. Preferential interest rates will be applied based on transaction contributions to minimize interest burdens.

This Chuseok special operating fund support is intended for SMEs that are expected to face temporary funding difficulties, such as insufficient funds for payments due to economic downturn, lack of liquidity, and declining sales, as well as for providing holiday bonuses to employees. Jeonbuk Bank expects that this initiative will help alleviate funding shortages and reduce financial costs for local SMEs suffering from the dual challenges of economic recession and sluggish domestic demand.

Gwangju Bank will provide 600 billion won in "Chuseok Holiday SME Special Funds" to local SMEs and small business owners facing funding difficulties ahead of Chuseok, available until October 31. This special funding consists of 300 billion won in new loans and 300 billion won in maturity extensions, with each company able to receive up to 5 billion won.

In particular, the new loans will offer preferential interest rates up to 1.2 percentage points lower than the calculated rate, which is expected to reduce financial burdens. The support is available to local SMEs and small business owners and can be used for business stabilization, such as payments for product production and supply, raw material purchases, and other operating expenses.