Woori Bank is stepping in to provide emergency financial support to suppliers of Homeplus, which is facing a crisis following the decision to terminate its corporate rehabilitation process.
On July 9, Woori Bank announced it will implement a "Special Management Stabilization Support" program for small and medium-sized enterprises and small business owners experiencing operational difficulties due to the termination of Homeplus's rehabilitation process.
The bank will offer new loans of up to 500 million won per company to help affected businesses secure necessary funds. For existing loans, Woori Bank will extend the maturity without requiring principal repayment.
Additionally, the bank will provide preferential loan rates and fee benefits based on the scale of damages and financial circumstances of each company. For export companies, the grace period for handling export bills in default will be extended from the current 60 days to a maximum of 90 days.
Baek Yeon-soo, head of Woori Bank's corporate group, stated, "We have prepared this support plan to assist partner small and medium-sized enterprises and small business owners who are struggling due to sudden changes in the business environment. We will spare no financial support to help affected companies achieve operational normalization."
* This article has been translated by AI.
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