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Finance

K Bank sole proprietor loan balance tops 3 trillion won, up 1 trillion won in six months

K Bank said on May 18 its loan balance to sole proprietors topped 3 trillion won as of May, rising by 1 trillion won in about six months after exceeding 2 trillion won in November. Growth was led by guarantee-backed loans and property-secured loans. The bank said it is expanding cooperation with regional credit guarantee foundations and local governments and has launched a Seoul-linked overdraft-style guarantee loan product.

Finance

KB Financial holds briefing on financial data-based commercial district revitalisation index

KB Financial Group said it held a briefing on its KB Commercial District Revitalisation Index in Seoul to help boost local economies and strengthen support for small merchants. The event shared a commercial district analysis model jointly developed with KB Kookmin Bank, KB Kookmin Card and Korea Data Bank, and introduced policy and service applications. The index links about 50 data items, including customer traits and sales patterns.

Finance

FSC launches one-stop support for struggling small merchants

South Korea\'s Financial Services Commission will work with the Ministry of SMEs and Startups and other agencies to provide proactive support for small merchants facing management difficulties. The FSC said it signed a memorandum of understanding in Seoul to offer pre-emptive and integrated assistance for small merchants and vulnerable groups. The programme will identify at-risk merchants and provide tailored policy information and counselling starting March 31.