DAEGU < invest Korea

According to Yonhap News,

NongHyup Bank Daegu announced on Oct. 31 that it is set to provide emergency financial aid to micro-business owners who are fire victims in the agricultural and fisheries products wholesale market in Maecheon, Buk-gu.

NongHyup Daegu will extend upwards of KRW 500 million to the Maecheon Market sellers/merchants who received a certificate that verifies their damage.

And the bank will apply up to a 1.6% prime rate and accept applications for suspension from new account holders, enabling the pause on interest rates for up to 12 months.

Nonghyup also plans to extend the maturity of bank loans if the existing loan matures and suspend the repayments of both principal and interest rates as well.

"We will spare no effort in carrying out emergency financial aid as well as restoration efforts to appease the victims' pain," Sohn Young-Won, director at the NongHyup Daegu said.


realism@yna.co.kr

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Source: Yonhap News (Oct. 31, 2022)