Busan Bank Forms 'Janggeumi Partnership' with Jayudomae Market... "Supporting Traditional Markets"

[Financial News] Busan Bank announced on the 4th that it had signed an MOU on the 'Janggeumi Partnership' with the Busan Jayudomae Market Merchants’ Association on the 3rd and conducted a financial fraud prevention campaign for traditional market merchants together with the Financial Supervisory Service’s Busan-Ulsan Office.
The name Janggeumi Partnership combines 'jang' (market) from traditional markets and 'geum' (finance) from financial institutions. It is a win-win program launched in 2023 through cooperation between financial institutions and traditional markets to prevent merchants from falling victim to financial fraud.
The Busan Comprehensive Financial Support Center for Common Citizens also participated in the event. It listened to merchants’ concerns on the ground and exchanged views on financial support measures that could provide practical assistance to traditional markets and small business owners.
Following the partnership, Busan Bank plans to provide Jayudomae Market merchants with a range of financial services, including financial fraud prevention activities, management consulting and a dedicated service desk, special-term savings products for small business owners, and special preferential terms on business loans.
After the agreement ceremony, officials from Busan Bank, the Financial Supervisory Service’s Busan-Ulsan Office, and the Busan Comprehensive Financial Support Center for Common Citizens visited approximately 500 stores in the market to conduct a financial fraud prevention campaign.
The participants explained major types of financial fraud, including voice phishing, and ways to prevent losses. They also introduced various support programs available through the Busan Comprehensive Financial Support Center for Common Citizens, including policy-backed financial services for low-income individuals and debt adjustment programs.
A Busan Bank official said, "We will strengthen financial fraud prevention efforts so that traditional market merchants can focus on their livelihoods with peace of mind, while carefully providing the financial services they need on the ground. We will also continue a range of initiatives that can provide practical assistance to local small business owners by working closely with relevant organizations and traditional markets." 

[email protected] Kwon Byeong-seok Reporter