NH Nonghyup Bank announced on September 22 that it will enhance financial support for the establishment of a semiconductor cluster in Gwangju, Jeonnam, and for the local settlement of businesses and talent.
On September 21, NH Nonghyup Bank officials visited the Gwangju City Hall and held a meeting with Min Hyung-bae, the mayor of Gwangju, to discuss comprehensive financial support plans aimed at creating a semiconductor-specialized city and revitalizing the local economy.
The bank plans to implement preferential financial policies for companies moving into the semiconductor cluster, including relaxing loan assessment criteria and increasing collateral recognition ratios. Customized financial services, such as asset management programs, will also be offered to employees of these companies.
Support for local small and medium-sized enterprises (SMEs) and small business owners is also being expanded. The bank has applied an additional preferential interest rate of 0.4 percentage points through a dedicated loan program for SMEs and small business owners launched in July, providing a total of 37.4 billion won so far.
Additionally, the bank is supporting approximately 125.7 billion won in loans through a special contribution of 5 billion won to guarantee institutions. The NH Growth Partnership Center is also operating, providing specialized consulting in areas such as entrepreneurship, management, and taxation, with 132 consultations offered this year.
Furthermore, the bank has delivered 300 million won in scholarships to foster future talent in the semiconductor and artificial intelligence (AI) fields. These scholarships will be used to support the education of local middle and high school students, as well as university students, and to cultivate professionals in advanced industries.
Kang Tae-young, president of NH Nonghyup Bank, stated, "We will expand support in finance and education to ensure the successful establishment of the semiconductor cluster and the stable settlement of businesses and talent in the region."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.