Banks offer 528 bln won in financial assistance for low-income earners in 2024

banks-financial assistance

Banks offer 528 bln won in financial assistance for low-income earners in 2024

SEOUL, Jan. 31 (Yonhap) -- Banks in South Korea provided a total of 528 billion won (US$363 million) in financial help to low-income earners and the vulnerable last year, their trade association said Friday.

The financial assistance includes 197 billion won in cash-equivalent help and 230 billion won in low interest-carrying loans, according to the Korea Federation of Banks.

The financial assistance for those people last year was some 88 percent of their planned figure.

The federation also said 1.49 trillion won worth of interest was refunded to smaller firms last year.

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