Finance
KB Kookmin Bank to cut interest above 5 percent, expand support for sole proprietors
KB Kookmin Bank will launch a financial inclusion programme this month to support sole proprietors facing high interest burdens. The bank will apply interest paid above an annual 5 percent rate on eligible sole proprietor loans to repayment of principal. The scheme, part of the KB Kookmin Happy Hope Project, applies when borrowers extend existing business loans. It targets low-credit borrowers with won-denominated loans above 5 percent, excluding some industries and delinquent customers.
