BNK Busan Bank announced on the 7th that it will implement a "special loan for investment corporations and expatriate corporations in Busan" to revitalize the Busan regional economy and attract corporations within the region.
The corporations eligible for the special loan are those that are relocating their business sites to Busan or are planning or constructing an R&D center or factory. Corporations residing in the Busan-Ulsan-Gyeongnam opportunity development special zone and expatriate corporations preparing to return to the Busan-Ulsan-Gyeongnam region are also included in the special loan support.
This special loan, totaling 200 billion won, will support up to 10 billion won per corporation. To alleviate the financial cost burden on eligible corporations, an interest rate reduction benefit of up to 1.60 percentage points will also be provided.