IBK Industrial Bank, Ministry of Land, Infrastructure and Transport Sign Win-Win Cooperation Agreement
Participation of 7 Public Institutions under the Ministry of Land, Infrastructure and Transport Including Korea Land and Housing Corporation
[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 15th that it signed a 'Win-Win Cooperation Agreement to Support Small and Medium Enterprises in the Land, Infrastructure and Transport Sector' with the Ministry of Land, Infrastructure and Transport and seven public institutions under the ministry.
Under this agreement, the Ministry of Land, Infrastructure and Transport and the seven affiliated public institutions will deposit approximately 300 billion KRW with IBK Industrial Bank, which will use these funds to provide about 600 billion KRW in low-interest 'win-win cooperation (mutual growth) loans.'
IBK Industrial Bank plans to sign detailed agreements next year with the seven institutions under the Ministry of Land, Infrastructure and Transport participating in the agreement to determine the loan recipients and limits. Approximately 3,000 small and medium enterprises are expected to be eligible.
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An IBK Industrial Bank official said, "We are honored to contribute to the win-win cooperation project involving the government and public institutions," adding, "We hope this will help the growth of small and medium enterprises in the land, infrastructure and transport sector in the future."
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