Yoon Jong-won, President of IBK Industrial Bank, Visits Small and Medium Enterprises in Daegu and Gyeongbuk Regions

Yoon, Bank President: "Providing Customized Financial Support Through SME Assistance Programs to Overcome COVID-19"

The photo shows Yoon Jong-won, President of IBK (Industrial Bank of Korea) (right), visiting Sandong Metal Industry located in Waegwan, Gyeongsangbuk-do on the 29th, listening to an explanation about the products from CEO Bae Seon-bong (left).

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 30th that President Yoon Jong-won visited small and medium-sized enterprises (SMEs) in the Daegu and Gyeongbuk regions and held meetings with corporate clients and employees.

The SME visited by President Yoon this time is Sandong Metal Industry located in Waegwan, Gyeongsangbuk-do. It is a manufacturer of machinery parts for oil drilling, and recently diversified its business into eco-friendly electric golf carts through mergers and acquisitions (M&A) with an affiliate possessing motor manufacturing technology to respond to environmental changes such as oil price fluctuations.

At the site, President Yoon said, "Sandong Metal Industry is a good example of turning a crisis into an opportunity through business diversification," and added, "We will actively support the growth of companies temporarily facing difficulties and innovative companies by utilizing the recently implemented ‘COVID-19 Overcoming SME Support Program.’"

IBK’s COVID-19 Overcoming SME Support Program consists of three measures: ▲ facility investment promotion loans (KRW 500 billion) for ‘innovative and startup companies,’ ▲ full credit loans (KRW 1 trillion) for ‘promising growth companies,’ and ▲ financial safety net support for ‘companies facing temporary liquidity crises.’

After visiting Sandong Metal Industry, President Yoon visited IBK branches in the Daegu area to express gratitude to employees who did their best to support SMEs in the Daegu and Gyeongbuk regions, which suffered the most damage from COVID-19 last year, and urged continuous support for client companies. Having visited all regional headquarters in the first half of this year, President Yoon said, “In the second half of the year, I will continue to listen to the difficulties of companies and communicate with employees.”

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