Seoul, South Korea – NH Nonghyup Bank has announced a special financial support program to assist individuals and small businesses that have suffered losses due to recent heavy snowfall. The bank is offering loans with favorable terms to help those affected recover from the disaster.

The program is available to individuals and small businesses who have obtained a "damage certificate" verifying their losses caused by the heavy snow. Loans of up to 500 million won (approximately US$370,000) for businesses and 100 million won (approximately US$74,000) for individuals will be provided. Additionally, borrowers will benefit from interest rate discounts of up to 2.0 percentage points, with farmers eligible for an even higher discount of 2.6 percentage points.

To provide further relief, the bank is offering a grace period of up to 12 months for new loans, during which borrowers can defer interest payments. Existing borrowers can also benefit from this grace period by submitting a damage certificate.

NH Nonghyup Bank CEO Lee Seok-yong visited a flower farm in Gwachon, Gyeonggi-do, which was severely damaged by the snowstorm. Expressing his sympathy for the victims, Lee stated, "I would like to express my deepest condolences to the individuals, small businesses, and farmers who have suffered losses due to the heavy snow. NH Nonghyup Bank will continue to provide financial support to help our customers recover and return to their normal lives."

This initiative by NH Nonghyup Bank demonstrates the bank's commitment to supporting its customers during times of crisis. By offering timely financial assistance and flexible repayment terms, the bank aims to alleviate the financial burden on those affected by the recent natural disaster.