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Finance

KakaoBank expands interest support for small merchants nationwide, to supply 1.2 trillion won in guaranteed loans

KakaoBank said it completed agreements to launch interest-support guaranteed loans with regional credit guarantee foundations across South Korea’s 17 cities and provinces, concluding with Gyeonggi and Jeju. The accumulated supply of the loans reached about 1.2 trillion won through the end of July, it said. Small merchants using the product saved an accumulated 23.6 billion won in interest, with an average rate cut of 1.99 percentage points.

Finance

KB Financial expands solidarity finance to support growth of social enterprises

KB Financial Group is expanding support for the growth of social enterprises through solidarity finance, it said on Tuesday. It highlighted the KB Social Investment Fund, formed in 2018, as a key vehicle. The fund totals 232.6 billion won and has invested a cumulative 188.5 billion won in 148 companies. KB Financial is also increasing support for regional solidarity economy firms and social ventures, including a 3 billion won commitment to the Co-Prosperity Cooperation Fund.

Finance

Woori Bank, KODIT and NongHyup Bank sign agreement to support green policy finance

Woori Bank will provide financial support to small and mid-sized companies pursuing greenhouse gas reductions. The bank said it signed a business agreement on June 25 with the Korea Technology Finance Corp and NH NongHyup Bank on an interest-subsidy support guarantee under green policy finance. Under the deal, KODIT will issue credit guarantee certificates based on assessments and screening results. Eligible firms may receive differentiated interest support, preferential rates and support for guarantee fees.