Gwangju Bank Makes Special Contribution of 2.3 Billion KRW to Support Local Small Business Financing

Gwangju Bank and Gwangju City signed a special contribution agreement of 2.3 billion KRW to support small business financing. Photo by Gwangju Bank

On January 22, Gwangju Bank announced that it had signed a special contribution agreement of 2.3 billion KRW with Gwangju City to support financing for small businesses.

The signing ceremony for the "2026 Special Guarantee Loan Support Project for Small Businesses" was held in Gwangju City on the same day, attended by Gwangju Mayor Kang Gijung, Gwangju Bank President Jeong Ilseon, Gwangju Credit Guarantee Foundation Chairman Yeom Gyusong, and other officials.

Through this agreement, Gwangju Bank made a special contribution of 2.3 billion KRW to expand financial support for small businesses (local commercial districts) in Gwangju who are struggling due to high interest rates and the economic downturn. Using these funds, the Gwangju Credit Guarantee Foundation will provide special guarantees totaling 46.6 billion KRW, and Gwangju City plans to offer interest subsidies of 3-4% for one year.

The special guarantee loan support is available to all small businesses, micro-enterprises, and self-employed individuals located in Gwangju, except for certain sectors such as entertainment, gambling, and speculative businesses. Each business can receive up to 50 million KRW in support, and the loan period is up to seven years.

Applications for guarantees can be submitted non-face-to-face starting January 26 through the Gwangju Bank "WaBank" app and the Gwangju Credit Guarantee Foundation "Bojeung Dream" app. For those who have difficulty applying online, in-person applications are also available at Gwangju Credit Guarantee Foundation branches.

Since 2020, Gwangju Bank has made a total special contribution of 9.3 billion KRW for small businesses (local commercial districts) in Gwangju Metropolitan City and has supplied special guarantee loans totaling 220.9 billion KRW, contributing to the revitalization of the local economy. In addition, in 2025, the bank will continue to provide guarantees for local small businesses through various agreements, including the "Warm Hope Special Guarantee Agreement" and the "Women's Business Financial Support Agreement."

Gwangju Bank President Jeong Ilseon stated, "We hope this special guarantee will provide practical help to local small businesses and micro-enterprises facing financial difficulties due to the economic downturn. As the primary financial institution in Gwangju, we will continue to support local small businesses and serve as a strong pillar for the regional economy."