THE JEONBUK BANK LTD. to Provide 500 Billion Won in Special Working Capital for Chuseok Holiday

[Financial News] JB Financial Group’s THE JEONBUK BANK LTD. announced on the 14th that it will provide 500 billion won in "special working capital for the Chuseok holiday" by the 13th of next month ahead of the Chuseok holiday.
THE JEONBUK BANK LTD. will provide commercial bill discounting and working capital loans of one year or less totaling 500 billion won, including 250 billion won for new loans and 250 billion won for loan extensions, targeting new working capital and the extension of maturities for small and medium-sized enterprises (SMEs) whose loans are due. The bank plans to lower the interest burden by applying preferential interest rates based on factors such as transaction contribution.
The special working capital support for the Chuseok holiday is provided to small and medium-sized enterprises (SMEs) that are expected to face temporary difficulties in financing due to economic downturns, liquidity shortages, payments for shortfalls resulting from reduced sales, and the payment of holiday bonuses to employees.

[email protected] Ye Byeong-jeong Reporter