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Finance

Woori Bank pushes \'productive business succession\' linking jobs and technology

Woori Bank is stepping up a “productive business succession” programme to help small and mid-sized companies ensure smooth succession and prevent closures, suspensions or downsizing. The bank unveiled its strategy at a briefing on June 1, highlighting a one-stop system combining financial support and consulting. It has set up a dedicated succession support centre and is expanding partnerships with the Korea Technology Finance Corporation, Kim & Chang and PwC Samil to provide integrated legal, tax and financing support.

Finance

KB Kookmin Bank, KODIT to support firms hit by Middle East war with 230 billion won inclusive finance

KB Kookmin Bank will support small and medium-sized companies struggling due to the Middle East war and the effects of high oil prices and a weak won. The bank said it signed an agreement with the Korea Technology Finance Corp to provide inclusive financial support to help firms overcome the crisis. KB Kookmin Bank plans a 5 billion won contribution and about 230 billion won in guarantee-backed loans, with preferential guarantee ratios and fee support for eligible companies.

Finance

KakaoBank to provide 125 billion won in financial support for small merchants in Seoul

KakaoBank will provide financial support worth 125 billion won for small merchants in Seoul in cooperation with the Seoul Credit Guarantee Foundation. KakaoBank will make a 10 billion won special contribution to the foundation and supply 125 billion won in guaranteed loans based on it. The support will be split between Seoul’s “Rapid Financial Support” programme and a district-linked local economy support programme covering all 25 districts.