IBK, 120 Employees Assigned to Credit Guarantee Foundation to Support "COVID-19 Loan Operations"

[Asia Economy Reporter Kwon Haeyoung] IBK Industrial Bank announced on the 17th that it has deployed about 120 employees, including wage peak employees and staff undergoing training as new branch managers, to branches nationwide to support the shortening of the credit guarantee foundation's guarantee certificate review and issuance period.

The deployed employees are expected to handle tasks such as consulting, document submission, and on-site inspections for small business owners and self-employed individuals at branches with a high volume of loan applications related to the guarantee foundation.

An IBK Industrial Bank official said, "We decided to deploy employees to help small business owners who are struggling due to loan application congestion and delays in guarantee reviews," adding, "We are also considering additional deployments in the future."

IBK Industrial Bank is providing various financial supports for companies affected by the novel coronavirus infection (COVID-19). Last month, the special support loan for COVID-19 affected companies was exhausted early within about a month of its launch, leading to an increase in the limit by 100 billion KRW. The special support loan for small business owners, called 'Haenaeri Loan,' also had its limit increased to 1 trillion KRW. Additionally, the bank operates about 30 products and systems for COVID-19 affected companies, including a special ultra-low interest loan with an interest rate in the 1% range worth 3.2 trillion KRW and business agreements signed with regional guarantee foundations.

Furthermore, the Chungju Training Center, an employee training facility, was provided for the treatment of mild COVID-19 patients, and the bank participated in the 'Good Landlord Movement' by reducing rent for IBK-owned real estate by 30%. It also took the lead in non-financial support by distributing about 64,000 hand sanitizers and disinfectants free of charge and advancing the purchase timing of customer gifts and office supplies.

An IBK Industrial Bank official said, "President Yoon Jongwon ordered the preparation of various support measures for small business owners and SMEs suffering from the spread of COVID-19," adding, "We will continue to provide effective and proactive support until the situation stabilizes."

This content was produced with the assistance of AI translation services.