Saemaul Geumgo to Provide KRW 15 Billion in Financial Support to Small Businesses and Companies in Jeju
- Input
- 2026-09-17 16:02:17
- Updated
- 2026-09-17 16:02:17
On the 17th, the Korea Federation of Community Credit Cooperatives announced that it had signed a special guarantee agreement with Jeju Special Self-Governing Province and the Jeju Credit Guarantee Foundation at its headquarters in Gangnam-gu, Seoul, to implement the "Jeju Small Business Hope Transition Special Guarantee" program.
The agreement was established to ease the financial burden on small business owners and self-employed people in Jeju and support business stability.
The Korea Federation of Community Credit Cooperatives will make a special contribution of KRW 1 billion, while the Jeju Credit Guarantee Foundation will provide special guarantees worth 15 times that contribution. Forty-one Saemaul Geumgo cooperatives in Jeju will provide a total of KRW 15 billion in financial support to small business owners and others who receive guarantee certificates.
An interest subsidy from Jeju Special Self-Governing Province will also be linked to the program. Borrowers can receive support of up to 4.25% per year through the subsidy. Jeju Special Self-Governing Province plans to allocate up to KRW 637 million annually to the program.
Eligible recipients are small and medium-sized enterprises and small businesses located in Jeju Special Self-Governing Province. Each business can receive up to KRW 70 million in support. The guarantee fee paid by customers will be fixed at 0.9% per year.
Kim In, chairman of the Korea Federation of Community Credit Cooperatives, said, "We hope this special guarantee will help ease the financial burden on small businesses and small enterprises in Jeju." He added, "We will continue to provide various forms of support that reflect local demand for financial services."
Meanwhile, Saemaul Geumgo is strengthening its role as a community-based financial institution. As of the end of last year, it operated about 460 branches in 89 areas experiencing population decline.
[email protected] Lee Hyun-jung Reporter