KB Kookmin Bank said Sunday it will launch a 6 trillion won ($4.04 billion) support program offering preferential interest rates for small and medium-sized enterprises, particularly those affected by the Iran war.
The program launched in partnership with Korea SMEs and Startups Agency forms part of KB Financial Group’s KB National Happiness Growth Project, introduced under a memorandum of understanding signed last year. The project seeks to strengthen productive financing and enhance the global competitiveness of SMEs.
Eligible firms include those utilizing policy funds from the agency, with the bank offering preferential interest rates within a total limit of 6 trillion won.
In addition to rate benefits, companies eligible for special contribution-backed guarantee programs will receive a 100 percent guarantee ratio for three years and up to a 0.3 percentage point reduction in guarantee fees. Firms under a separate guarantee support agreement will receive fee support of 1 percentage point annually for two years, totaling 2 percentage points.
The bank particularly plans to expand support for companies affected by the conflict in the Middle East, which has led to rising logistics costs and delays in contracts, providing timely financial assistance to ease funding difficulties.
The bank also said it will cooperate with the agency at the regional level to respond to additional financing demand from local SMEs and contribute to balanced regional development.
“The program is expected to provide practical support to companies facing external uncertainties,” a bank official said. “We will continue to expand productive financing to help stabilize business operations and strengthen competitiveness.”
jwjeon7625@heraldcorp.com
