KB·Shinhan·Woori·Hana Financial Group will provide 4 billion won to support the recovery from the wildfire damage that occurred in Sancheong, Gyeongnam, and Uiseong, Gyeongbuk, and Ulju, Ulsan. Along with the fund for recovery, financial support will also be provided for local residents and small businesses, including emergency living stability funds.
According to the financial sector on the 23rd, KB Financial, Shinhan Financial, Hana Financial, and Woori Financial Group will each donate 1 billion won to support the recovery from the wildfire damage.
KB Financial will utilize the 'Disaster Response System' established at the group level and provide emergency relief kits (blankets, hygiene products, medical supplies) and meal trucks to the affected areas, along with a donation of 1 billion won.
Shinhan Financial plans to establish a fund of 1 billion won and implement an emergency support project for firefighting personnel and public officials who were injured or died while fighting the fire.
Hana Financial will deliver 1 billion won to the Community Chest of Korea and provide 1,111 happiness boxes containing relief items such as medical supplies, hygiene products, and ready-to-eat meals.
Woori Financial will donate 1 billion won to the Korean Red Cross through the Community Chest of Korea and has also decided to dispatch 1,000 disaster relief kits and meal relief vehicles to the site in cooperation with the Korean Red Cross.
In addition, special loans, maturity extensions, preferential interest rates, and other financial support programs will be implemented for disaster victims in the affected areas.
KB Kookmin Bank will provide special loans within the range of the damage amount. For personal loans, emergency living stability funds will be supported up to a maximum of 20 million won. For corporations (self-employed individuals, small and medium enterprises), working capital can be borrowed up to 500 million won with a maximum preferential interest rate of 1 percentage point, while facility funds can be borrowed within the required amount for the recovery of damaged facilities.
Shinhan Bank will provide up to 500 million won in new credit support for small and medium-sized enterprises and small businesses, along with maturity extensions, deferrals of installment repayments, and special preferential interest rates of up to 1.5 percentage points when applying for new or extended loans. New personal loan customers and existing customers will receive a benefit of up to a 1.5 percentage point interest rate reduction.
Hana Bank will support small and medium-sized enterprises, midsize companies, and individual business owners affected by the fire with up to 500 million won and individuals with emergency management stabilization funds of up to 50 million won. It will allow maturity extensions for existing loans without principal repayment for up to 1 year at the time of maturity, and defer payment on installment repayment for up to 6 months.
Woori Bank will provide personal loans of up to 20 million won in emergency living stability funds, reduce loan interest rates by up to 1 percentage point, pay contracted interest upon early termination of savings accounts, and waive remittance fees at branches to residents affected by the wildfire.