NH NongHyup Bank is launching a comprehensive financial support program to help build a semiconductor cluster and revive the local economy in the Jeonnam-Gwangju region. The bank said on the 22nd that it visited the Gwangju city office on the 21st and held talks with Mayor Min Hyung-bae on corporate financing and plans to nurture local talent.
The bank plans to set up a preferential financing program for companies moving into the semiconductor cluster. It is reviewing steps to ease loan screening requirements and raise loan-to-value ratios on collateral. Executives and employees at those companies will receive tailored financial services, including asset management programs.
Support for local small and medium-sized enterprises and small business owners will also expand. The bank applied an additional preferential interest rate of 0.4 percentage points to a loan product for SMEs and small business owners launched in July. It has extended 37.4 billion won across 174 loans so far. The bank also made a special contribution of 5 billion won to guarantee institutions, supporting about 125.7 billion won in guarantee-backed loans.
The bank is also providing expert consulting on startups, management and taxes through its NH Growth Partner Center. It has carried out 132 consulting sessions this year for local small business owners and others.
NH NongHyup Bank also delivered 300 million won in scholarships to nurture local talent in semiconductors and artificial intelligence. The funds will support middle school, high school and university students in the region and help train specialists for advanced industries.
"We will continue to expand support in finance and education so that companies and talent can settle in the region on a stable footing," NH NongHyup Bank President Kang Tae-young said.
