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Finance

Woori Bank, KIBO to provide 210 billion won support to SMEs hit by Middle East conflict

Woori Bank said on Sunday it signed an agreement with the Korea Technology Finance Corp to support small and medium-sized companies facing difficulties from global instability such as the Middle East war. Woori Bank will make a special contribution of 4 billion won to KIBO and provide about 210 billion won in financial support. Eligible firms include direct exporters to the Middle East, companies hurt by disruptions to Middle East crude oil supply chains, firms with management difficulties and those recommended by Woori Bank.

Finance

KB Kookmin Bank, KOSMES to provide 6 trillion won in productive finance support for Middle East-affected firms

KB Kookmin Bank said on April 12 it will run a 6 trillion won productive finance support programme with the Korea SMEs and Startups Agency. The programme, effective from April 13, targets SMEs and venture companies using policy funds and offers special interest rate preferences within the limit. Firms covered by agreement guarantees will receive additional benefits, including guarantee ratio and fee reductions. The bank plans to expand support for firms hit by Middle East-related logistics cost increases and contract delays.

Finance

KB Kookmin Bank signs deal with KODIT to support 600 billion won in productive finance

KB Kookmin Bank said on Thursday it signed two agreements with the Korea Credit Guarantee Fund to expand productive finance and support growth recovery, including a region-focused programme. Under the deals, the bank will make a 17 billion won special contribution to the fund and, based on it, plans to supply 600 billion won in guarantee-backed secured loans. Support and fee benefits differ between the general and regional programmes.