NH Nonghyup Bank announced on July 22 that it has signed two agreements with the Credit Guarantee Fund to expand productive finance and support economic recovery.
The agreements focus on enhancing financial support for regional companies and businesses outside the capital area by separately managing general productive finance support and region-specific agreements.
Under the 'Agreement for Expanding Productive Finance and Supporting Economic Recovery,' Nonghyup Bank will contribute a total of 5 billion won, including a special contribution of 3.5 billion won and a guarantee fee support of 1.5 billion won, while providing a guarantee of 220 billion won.
The Credit Guarantee Fund will offer preferential benefits, including a 100% guarantee rate for three years, a 0.2 percentage point reduction in guarantee fees for three years, and a 0.5 percentage point support for two years. Eligible businesses include those in new growth industries, promising startups, exporters, job-creating companies, and venture firms.
In the 'Agreement for Expanding Region-Specific Productive Finance and Supporting Economic Recovery,' a total of 5 billion won will be contributed, including a special contribution of 4 billion won and a guarantee fee support of 1 billion won, along with a guarantee of 163 billion won.
The guarantee fees will be reduced by up to 0.3 percentage points for three years and supported by 0.6 percentage points for two years. In addition to the general agreement targets, businesses in regional industries, small businesses relocating to provinces, and local investment companies will also be included in the support.
A representative from NH Nonghyup Bank stated, "We will actively participate in the government's productive finance policy and continue to expand financial support for companies with high growth potential and local businesses."
The agreements focus on enhancing financial support for regional companies and businesses outside the capital area by separately managing general productive finance support and region-specific agreements.
Under the 'Agreement for Expanding Productive Finance and Supporting Economic Recovery,' Nonghyup Bank will contribute a total of 5 billion won, including a special contribution of 3.5 billion won and a guarantee fee support of 1.5 billion won, while providing a guarantee of 220 billion won.
The Credit Guarantee Fund will offer preferential benefits, including a 100% guarantee rate for three years, a 0.2 percentage point reduction in guarantee fees for three years, and a 0.5 percentage point support for two years. Eligible businesses include those in new growth industries, promising startups, exporters, job-creating companies, and venture firms.
In the 'Agreement for Expanding Region-Specific Productive Finance and Supporting Economic Recovery,' a total of 5 billion won will be contributed, including a special contribution of 4 billion won and a guarantee fee support of 1 billion won, along with a guarantee of 163 billion won.
The guarantee fees will be reduced by up to 0.3 percentage points for three years and supported by 0.6 percentage points for two years. In addition to the general agreement targets, businesses in regional industries, small businesses relocating to provinces, and local investment companies will also be included in the support.
A representative from NH Nonghyup Bank stated, "We will actively participate in the government's productive finance policy and continue to expand financial support for companies with high growth potential and local businesses."
* This article has been translated by AI.
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