On the 6th, the Industrial Bank of Korea announced that it will provide 100 billion won in emergency financial support for small and medium-sized enterprises and partner companies affected by the large fire in Yeongcheon, Gyeongsangbuk-do.
The Industrial Bank of Korea plans to support up to 300 million won per corporation for operating funds and facility damage restoration for small and medium-sized enterprises that have suffered direct or indirect damage from the fire, and to reduce the loan interest rate by up to 1 percentage point. Additionally, for existing credit maturity, it will support maturity extensions for up to a year without principal repayment and will defer the repayment of installment amounts.
To actively support recovery from the damage, the Industrial Bank of Korea is deploying corporate customer representatives to the site to assess the extent of the damage and respond to facilitate the early normalization of transactions. An official from the Industrial Bank of Korea said, "We will spare no financial support to help the corporations that are suffering greatly from the fire to normalize as soon as possible."