Shinsegae TV Shopping Supports Loans for SMEs in Partnership with Industrial Bank of Korea
[Asia Economy Reporter Lim Chun-han] Shinsegae TV Shopping announced on the 18th that it has signed a 'Cooperative Loan Agreement for Mutual Growth' with IBK Industrial Bank of Korea.
Shinsegae TV Shopping will deposit 10 billion KRW interest-free with IBK Industrial Bank, which will use these funds to provide loans at preferential interest rates to Shinsegae TV Shopping's small and medium-sized partner companies.
The maximum loan limit per company is 500 million KRW, with an interest rate reduction of 0.8 percentage points. Companies wishing to apply for loans can do so through IBK Industrial Bank upon recommendation from Shinsegae TV Shopping.
Hot Picks Today
"Samsung and Hynix Were Once for the Underachievers"... Hyundai Motor Employee's Lament
- Samsung Enterprise Labor Union: "We Respect Court’s Injunction Decision... General Strike to Proceed on the 21st as Planned"
- "Was This Delicious Treat Enjoyed Only by Koreans?"... The K-Dessert Captivating Japan
- U.S. Treasury Yields Surge Amid Iran War Uncertainty... Warning Signs for AI Tech Stock Rally
- "That? It's Already Stashed" Nightlife Scene Crosses the Line [ChwiYak Nation] ③
Kim Hong-geuk, CEO of Shinsegae TV Shopping, said, "We empathize with the difficulties faced by partner companies and SMEs due to the prolonged COVID-19 pandemic, and we have prepared this loan support to participate in ESG (Environmental, Social, and Governance) management across national economic development and the industrial ecosystem. As this is the first mutual growth fund established in the data home shopping (T-commerce) industry, we hope it will serve as a useful catalyst for SMEs wishing to enter sales through TV shopping."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
