IBK Industrial Bank, Agreement on Card Issuance for Credit Recovery Diligent Repayers

Issuance of Small Credit Limit Card Up to 300,000 KRW per Month Available

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank of Korea announced on the 30th that it signed a 'Credit Recovery Diligent Repayer Card Issuance Business Agreement' with the Credit Card Social Contribution Foundation, the Credit Recovery Committee, and SGI Seoul Guarantee at the IBK headquarters in Euljiro, Seoul.

Under this agreement, debtors who have undergone debt adjustment through the Credit Recovery Committee and have diligently repaid their monthly installments for more than six months can receive a check card with a small credit limit granted by IBK Industrial Bank of Korea, depending on the repayment period.

Customers who have diligently repaid for more than six months can receive a postpaid transportation card with a monthly limit of 100,000 KRW, and those who have repaid for more than one year can receive a small credit limit card with a monthly limit of 300,000 KRW through screening. From April, customers who have been notified by the Credit Recovery Committee that card issuance is possible can apply for issuance through the IBK website (including mobile) and ARS.

Yoon Jong-won, the bank president, said, “We hope this agreement will help financially marginalized groups who are striving for credit recovery to resume financial activities,” and added, “We will continue to practice inclusive finance as a policy bank through various support measures.”

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