The South Korea Financial Services Commission announced a Chuseok package providing about KRW 103 trillion to small businesses and small and midsize enterprises, alongside measures to maintain access to financial services during the September 24-27 holiday. Policy financial institutions will supply KRW 23 trillion in loans and guarantees, while banks will provide KRW 79.6 trillion in preferential rate loans, comprising KRW 32.2 trillion in new lending and KRW 47.4 trillion in maturity extensions. Traditional market merchants can also access KRW 5 billion in funding through merchant associations, with loans capped at KRW 10 million per merchant and interest rates of no more than 4.5% annually. Loan maturities and payment dates for credit cards, insurance premiums, telecommunications charges and utilities falling during the holiday will generally move to September 28 without late charges. Housing pension payments due during the holiday will be paid on September 23, while maturing deposits will be repayable on September 28 with holiday interest included. Equity sale proceeds due during the closure will settle from September 28 to September 30, and banks will operate 11 mobile branches and 11 flexible branches for services including cash transactions, currency exchange and remittances.
2026-09-14South Korea Financial Services Commission
South Korea Financial Services Commission sets KRW 103 trillion Chuseok financing and holiday payment measures
The South Korea Financial Services Commission announced about KRW 103 trillion in Chuseok financing for small businesses and small and midsize enterprises, including KRW 23 trillion from policy financial institutions and KRW 79.6 trillion from banks. Payments and loan maturities due during the September 24-27 holiday will generally shift to September 28 without late charges, while housing pension payments will be advanced to September 23. Banks will also operate mobile and flexible branches for essential transactions.