BUSAN < invest Korea

According to Yonhap News,

(BUSAN=Yonhap News) The Busan Port Authority (BPA) announced on March 6 that it will raise KRW 5 billion for its SME Shared Growth Fund, the same amount as last year, and expand interest support for borrowers. It launched the fund with the Industrial Bank of Korea in 2015 to create jobs and ensure the shared growth of SMEs in the maritime transport and port sectors.

The fund, which started with KRW 2.5 billion, has grown into a KRW 5 billion fund.

This year, the BPA raised the interest deduction rate that is offered to borrowers from 0.9% to 1.4%. An SME that borrowed a loan at a 5% interest rate only has to pay a 3.6% interest, and the rest is covered by the Shared Growth Fund.

A single enterprise is eligible for loans worth up to KRW 500 million.

According to the BPA, 38 SMEs benefited from the interest support for their loans in the amount of KRW 5.7 billion.

lyh9502@yna.co.kr

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Source Text

Source: Yonhap News (Mar. 06, 2018)

** This article was translated from the Korean.