IBK, First Management Strategy Meeting of the Year... Expands COVID Ultra-Low Interest Loans to 5.8 Trillion Won

[Asia Economy Reporter Haeyoung Kwon] IBK Industrial Bank held its first management strategy meeting of the year on the 24th at its headquarters in Euljiro, Seoul, to review the status of financial support related to the novel coronavirus infection (COVID-19).

To hear voices from the field, IBK connected 21 regional headquarters nationwide via a video conference system to understand on-site trends and share regional support cases. They listened to difficulties faced in loan operations and exchanged opinions on practical support measures.

An IBK official explained, "The existing management strategy meetings were occasions to review business performance, but under the current circumstances, they have been transformed into meetings for countermeasures to overcome the COVID-19 crisis."

Yoon Jong-won, President of IBK, encouraged frontline employees for their recent increased workload and urged, "Please focus all capabilities to ensure that financial support for affected companies can be carried out swiftly on the ground."

Meanwhile, IBK has significantly expanded the scale of ultra-low interest loans for small business owners at an annual interest rate of 1% from the existing 1.2 trillion won to 5.8 trillion won. To provide prompt financial support, various support measures are being operated, including delegating consultation, document reception, and on-site inspection tasks to 15 regional credit guarantee foundations.

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