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Finance

Naver Pay to provide 7.5 billion won special guarantee for Jeju small merchants

Naver Pay will contribute 600 million won jointly with Jeju Bank to provide a total of 7.5 billion won in special credit guarantees for small merchants in Jeju, it said. Each business can receive up to 50 million won in guarantees, with non-financial support such as distributing offline payment terminals and providing digital education. The programme will link with Jeju’s interest subsidy scheme and expand fee refund support for on-site payments through year-end.

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.