Applications open Tuesday at 35 partner branches of Shinhan, Woori and Hana Bank; sole proprietor access points expanded from 6 to 7
Following 25 billion won disbursed in the first half, the second-half round offers up to 300 million won for corporations and 100 million won for individuals at a fixed 1.5% annual rate
Gangnam-gu will begin accepting applications Tuesday for 16.6 billion won ($12.1 million) in second-half low-interest loans aimed at easing the financial burden on small and medium-sized enterprises and small business owners in the district.
The district had already extended 25 billion won in first-half loans this year. The second-half round combines 1.6 billion won in unallocated first-half funds with fresh second-half resources, bringing the total to 16.6 billion won. The district's full-year lending volume stands at 40 billion won — the largest of any autonomous district in Seoul.
Gangnam-gu has also expanded access to the program. Starting in the first half of this year, the district increased loan consultation and application points from 10 to 35 partner branches across Shinhan, Woori and Hana Bank. From the second half onward, the number of branches accepting applications from sole proprietors grows from six to seven, giving business owners more options to apply near their workplace or at their primary bank. A full list of participating banks and branches is available on the Gangnam-gu district office website.
Eligibility is open to small and medium-sized enterprises and small business owners registered in Gangnam-gu for at least one year. Funds may be used for operating costs, facility investment or technology development. Corporate applicants may borrow up to 300 million won, while sole proprietors may apply for up to 100 million won. The loan carries a fixed annual interest rate of 1.5%, with repayment structured as equal principal installments over four years following a one-year grace period. However, businesses with no 2026 sales, those with outstanding national or local tax arrears, and businesses that are suspended or closed are ineligible. Businesses in restricted sectors — including lodging, gambling and adult entertainment — may not apply.
"I hope this loan support helps small and medium-sized enterprises and small business owners reduce their financial burden and run their operations with greater stability," Gangnam-gu District Mayor Kim Hyun-ki said. "We have widened the application network to make it easier for busy small business owners to access the program, and I encourage businesses in need to make use of the funds at the right time."
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