KB Kookmin Bank to provide 15.2 trillion won for SMEs before Chuseok

  • KB Kookmin Bank will provide financing to SMEs and small business owners before Chuseok.
  • 15.2 trillion won includes 6.2 trillion won in new loans and 9 trillion won in extensions.
  • KB Kookmin Bank will offer rate discounts, repayment deferrals and maturity extensions without partial principal repayment.

KB Kookmin Bank will provide ₩15.2 trillion ($11.1 billion) in financing to small and medium-sized enterprises and small business owners ahead of Chuseok. The September 2 support plan includes ₩6.2 trillion ($4.5 billion) in new loans and ₩9 trillion ($6.6 billion) in maturity extensions. Each business can receive up to ₩1 billion, while borrowers may extend maturing loans without partial principal repayment and access installment-payment deferrals. Preferential interest rates of up to 1.5 percentage points will apply to new loans and extensions. The bank said the package is intended to ease temporary funding pressures linked to inventory buildup and bonus payments and help stabilize operations. Separately, KB Kookmin Bank announced plans to hire about 180 new and experienced employees in the second half of this year.

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