Shinhan Bank said on Aug. 21 it will donate 200 million won to support recovery efforts and help displaced residents in South Gyeongsang areas including Geoje and Tongyeong that were hit by torrential rains.

Earlier, on Aug. 17, Shinhan Bank provided 50 relief tents and emergency relief kits to residents affected by torrential rains in South Gyeongsang. It also decided to provide additional relief goods in line with conditions on the ground.

It is also providing financial support. It will offer individual customers emergency living-stability funds of up to 30 million won within the scope of the damage, and provide business customers with up to 500 million won in new working capital and other support.

Shinhan Bank said the 200 million won donation expands support to include community recovery efforts, adding to existing financial support and relief goods.

It plans to form a volunteer group centered on employees in the Busan and South Gyeongsang regions to take part in recovery activities.

A Shinhan Bank official said, "We hope this support will help South Gyeongsang residents suffering from the sudden torrential rains return to their daily lives as soon as possible."