KB Kookmin Bank Excludes Crypto Trading from Small Business Loan Support

KB Kookmin Bank has confirmed that digital asset (digital asset) trading and brokerage businesses have been excluded from the eligibility criteria for its Small Business Long-Term Installment Repayment Support and Maturity Extension Loan programs.

According to a public disclosure filed by KB Kookmin Bank on April 16, the bank included 'Digital Asset Trading and Brokerage' as a restricted industry in both the 'KB Small Business 119 Plus Long-Term Installment Repayment Loan' and 'KB Small Business 119 Plus Maturity Extension Loan' programs.

The 'KB Small Business 119 Plus Long-Term Installment Repayment Loan' converts existing loans for small businesses facing temporary financial difficulties into long-term installment repayment plans of up to 10 years, reducing debt burden. The program targets individual and corporate business owners who hold regular loans but face repayment challenges due to liquidity shortages.

However, 'Digital Asset Trading and Brokerage' has been included in the restricted industries list. Online game item brokerage businesses, financial services, insurance and pension services, certain real estate businesses, and other sectors are also excluded from support eligibility.

The same restrictions apply to the 'KB Small Business 119 Plus Maturity Extension Loan,' which allows small businesses to refinance existing loans into temporary repayment plans to reduce payment burden.

It appears that KB Kookmin Bank's exclusion of digital asset industries is not a new regulation but aligns with existing government policy. The Small and Medium Business Administration has also listed 'Digital Asset Trading and Brokerage' as an excluded industry in its small business funding program guidelines, along with financial services and insurance and pension sectors.

Separately, KB Kookmin Bank provides real-name verification deposit account services for Bithumb users, connecting verified accounts to Bithumb trading accounts for fiat currency deposits and withdrawals related to digital asset transactions.