KB Financial Group to give financial support to SMEs

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KB Financial Group to give financial support to SMEs

KB Financial Group said yesterday that it will give up to 30 trillion won ($29.1 billion) in financial support to small and midsize companies and private entrepreneurs such as shop owners, restaurateurs or start-ups.

This includes giving loans worth 1.5 trillion won to small merchants and start-ups without collateral. To encourage start-ups to take out loans, the bank will open a new branch in Pangyo, Gyeonggi, which is the nation’s start-up center with major IT and game developers, including NHN, Nexon and NCSoft.

KB will also give support to durable goods manufacturers through its insurance products and credit cards among other help.

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