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Finance

Seoul launches Ansim Account No. 4 at six banks, raises cap to 20 million won

Seoul will launch Ansim Account No. 4 on Sept. 3 to support small business owners and self-employed people, raising the maximum limit per business to 20 million won from 10 million won. The city will supply 300 billion won under the programme from Sept. 3, bringing this year’s total supply to 500 billion won. The product is a revolving credit line with interest charged only on amounts used and tiered limits based on business history, credit scores and reported sales.

Finance

Hana Bank, Hyundai Mobis and Kibo to provide 500 billion won financial support to partner SMEs

Hana Bank, Hyundai Mobis and the Korea Technology Finance Corp will provide up to 500 billion won in financial support for small and midsized firms that partner with Hyundai Mobis. The three signed a broad memorandum of understanding to supply liquidity and ease financing costs for firms with limited credit or collateral. The two companies will jointly contribute 30 billion won to Kibo to back guarantees, offering full guarantee coverage for 3 years and reduced fees.

Finance

KB Kookmin Bank to support 3.5 trillion won in guaranteed loans for industrial complex firms

KB Kookmin Bank will supply about 3.5 trillion won in guaranteed loans to companies located in industrial complexes and regional manufacturers, in cooperation with the Korea Credit Guarantee Fund and the Korea Technology Finance Corporation. The bank said it signed a financial support agreement aimed at strengthening competitiveness and balanced growth in regional manufacturing. It will provide contributions and guarantee fee support totaling 10 billion won to the two institutions.