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Finance

KPL to cut personal loan rates by 1 percentage point for new mid-to-low credit borrowers

PFCT, operator of the online investment-linked finance platform KPL, is running a promotion offering new personal credit loan users a 1 percentage point interest-rate discount. KPL said on Sept. 2 it will provide a 1 percentage point rate discount coupon to new users through Sept. 30. The promotion applies to new customers who take out loans directly on KPL without using external loan comparison platforms.

Finance

Four major banks offer financial aid for southern region flood victims, loans up to 500 million won

South Korea’s four major banks are providing emergency financial support for customers affected by heavy rain in the country’s southern region. The banks will offer loans of up to 50 million won for individual customers, with limits varying by bank. They will also provide working capital and facility loans of up to 500 million won for small and medium-sized firms, small merchants and individual business owners, and apply preferential interest rate discounts on working capital loans.

Finance

IBK Industrial Bank of Korea offers 1 trillion won fixed-rate loans to mid, low credit SMEs

IBK Industrial Bank of Korea will provide 1 trillion won in fixed-rate loans for mid and low credit small and medium-sized enterprises. The bank launched its “HopeOn Safe Fixed-Rate Loan” product on Aug. 3. Loan limits per company are up to 1 billion won for working capital and up to 4 billion won for facilities funding. It offers an interest-rate discount of up to 1.0 percentage point, and allows borrowers to switch to a variable rate if market rates fall.