News / Korea / yonhap_finance
NongHyup Bank Jeonbuk and KIBO Launch 20 Billion Won Loan Program for SMEs
Finance · Major Banks · yonhap_finance · 2026-09-04
NongHyup Bank's Jeonbuk headquarters partners with the Korea Technology Finance Corporation to provide 20 billion won in guaranteed loans to local SMEs.
What Happened
Financial Support Partnership: NongHyup Bank's Jeonbuk headquarters has teamed up with the Korea Technology Finance Corporation (KIBO) to provide a total of 20 billion won in loan support for small and medium-sized enterprises in the Jeonbuk region. The program operates through a special contribution of 1 billion won from NongHyup Bank, which enables KIBO to issue credit guarantees for the loans.
Targeting Growth Sectors: The initiative is specifically designed to assist promising SMEs and mid-sized companies that possess strong technical capabilities but lack sufficient collateral. It aims to alleviate liquidity shortages and reduce financial burdens for firms in high-growth sectors, including artificial intelligence.
Commitment to Inclusive Finance: Jang Gil-hwan, head of NongHyup Bank's Jeonbuk division, expressed hope that this special funding will provide tangible relief to companies facing financial difficulties. He emphasized the bank's ongoing commitment to expanding inclusive financial support for technology-driven businesses.
Economic Impact: By providing essential capital to local firms, the partnership is expected to bolster the stability and growth potential of the regional economy. This collaborative effort highlights the role of financial institutions in fostering industrial innovation and supporting local business development.