BNK Financial Group will support special loans worth a total of 1.6 trillion won for regional small and medium-sized companies and small merchants ahead of Chuseok.

BNK Financial said on Aug. 24 it will supply the "BNK 2026 Chuseok Special Loan" through BNK Busan Bank and BNK Kyongnam Bank.

The support period runs from Aug. 24 through Oct. 26. Busan Bank and Kyongnam Bank will each provide 800 billion won, for a total of 1.6 trillion won.

Support at each bank consists of 400 billion won in new funding and 400 billion won in maturity extensions. On a combined basis, new funding and maturity extensions each total 800 billion won.

Key targets include companies engaged in the marine and fisheries industry, local start-ups, SMEs with strong technological capabilities, companies that create local jobs, SMEs in strategic industries set by local governments, and SMEs with long-term business relationships.

Support will be provided up to 3 billion won per company, and eligible firms will also receive interest-rate cuts of up to 1.0 percentage point.

A BNK Financial Group official said, "We hope this special loan will help ease the management burden on regional SMEs and small merchants at a time when funding demand increases ahead of Chuseok."