Finance

Shinhan Bank to subsidise guarantee fees for Sunshine Loan Youth

Shinhan Bank will subsidise guarantee fees of up to 100,000 won for its Sunshine Loan Youth product to reduce financing costs for young people. The bank said it has been running the support event since July 15. Eligible borrowers include people aged 19 to 34 with annual income of 35 million won or less, such as job seekers, new employees and young entrepreneurs. The support is paid at the end of the following quarter.

Games & Commerce

Korea Post launches Youth Future Savings offering up to 8.0 percent interest

Korea Post will launch its Youth Future Savings product on June 22 as a new participating provider of a government policy finance programme aimed at helping young people build assets. Eligible applicants are aged 19 to 34 and meet income requirements, with some small business owners also able to join if household income criteria are met. The three-year savings plan offers a base rate of 5.0 percent, with preferential rates and an event bonus lifting the maximum to 8.0 percent.