Pohang Small Businesses to Receive Special Guarantees of 50 Million Won, Young Entrepreneurs Up to 100 Million Won... Gyeongbuk Credit Guarantee Foundation Signs Agreement with Financial Institutions

Gyeongbuk Credit Guarantee Foundation has signed a business agreement with Pohang City and local financial institutions for the "2026 Pohang City Hope Companion Special Credit Guarantee" to ease funding difficulties for small business owners in Pohang.

Under the agreement, iM Bank will contribute 2.8 billion won, Hana Bank 650 million won, and KB Kookmin Bank and NongHyup Bank 400 million won each. Including these, Shinhan Bank, K Bank, Woori Bank, Guryongpo Suhyup, Pohang Suhyup, and Ocheon Suhyup will together create a total contribution fund of 5 billion won, and Pohang City will contribute an equal amount through a 1:1 matching scheme. Gyeongbuk Credit Guarantee Foundation will provide credit guarantees totaling 120 billion won, which is 12 times the amount of the special contributions.

Gyeongbuk Credit Guarantee Foundation and Pohang-area financial institutions are taking a commemorative photo after signing a memorandum of understanding to provide special credit guarantees for small business owners and young entrepreneurs.

The special credit guarantee is available to small business owners who currently have a place of business in the Pohang area and have completed business registration, with preferential support given to young entrepreneurs and small business owners with multiple children.

The maximum guarantee limit is 50 million won, and young entrepreneurs and small business owners with multiple children can receive guarantee support of up to 100 million won.

In addition, Pohang City will provide 3% interest support for two years, enabling the use of financial products at low interest rates.

Small business owners who wish to apply non-face-to-face can do so through the Bojung Dream (APP), while those wishing to apply in person can make a consultation reservation via the Gyeongbuk Credit Guarantee Foundation website or the AI call center and then submit their application.

Kim Jungkwon, Chairman of Gyeongbuk Credit Guarantee Foundation, said, "Thanks to the 1:1 matching contributions from local financial institutions to the 2026 Pohang City Hope City Special Credit Guarantee program, we are now able to provide guarantee support on a much larger scale," adding, "We will do our best to expand matching contribution programs between local governments and commercial banks so that small business owners in the province can receive even more guarantee support."

This content was produced with the assistance of AI translation services.