BNK Financial Group Offers 1.6 Trillion Won Special Lunar New Year Loans to Local SMEs and Small Business Owners

Operates from January 19 to March 19

Busan Bank and Kyongnam Bank, affiliates of BNK Financial Group, announced on January 19 that they will offer a special Lunar New Year loan program totaling 1.6 trillion won in celebration of the nation’s largest holiday.

The Lunar New Year special loan is designed to help local small and medium-sized enterprises (SMEs) and small business owners address liquidity issues and revitalize the regional economy. The program will be available from January 19 to March 19. The total loan limit is set at 800 billion won each for Busan Bank and Kyongnam Bank (400 billion won for new loans and 400 billion won for loan extensions), amounting to a combined 1.6 trillion won.

Eligible recipients include long-term business partners, local startups, SMEs with outstanding technological capabilities, companies creating local jobs, SMEs operating in strategic industries designated by local governments, and companies with a strong record of repayment. Each company can receive up to 3 billion won, and to further reduce financial costs for local SMEs, an additional interest rate reduction of up to 1.0% will be provided.

A representative from BNK Financial Group stated, "We have launched this special loan program to support local SMEs and small business owners facing increased funding needs ahead of the Lunar New Year. We hope this initiative will help ease financial difficulties and inject vitality into the regional economy. BNK Financial Group will continue to do its best to grow alongside the local community as a financial institution."