Public Home Shopping Operates 'Sangsaeng Plus Fund' to Support Small and Medium-Sized Businesses

IBK Industrial Bank and Business Agreement
Supporting Liquidity for Partner Companies Worth 30 Billion Won

Public Home Shopping will operate the 'Sangsaeng Plus Fund,' a financial support system for small business owners, following the 'Sangsaeng Fund,' a financial support system for small and medium-sized partner companies. On the 12th, Public Home Shopping announced that it signed a 'Sangsaeng Plus (Companion Support) Business Agreement for Small and Medium Enterprises and Small Business Owners' with IBK Industrial Bank of Korea at the IBK Finance Tower in Euljiro, Seoul.

The 'Sangsaeng Plus Fund' is a system based on the Sangsaeng Fund established last year by Public Home Shopping to support partner companies financially, enhancing its effectiveness by increasing the reduced interest rates and adding guarantee support for small business owners. Through this, partner companies of Public Home Shopping can secure liquidity with low-interest loans through the 30 billion KRW scale Sangsaeng Plus Fund.

At the Small Business Win-Win Plus Fund agreement ceremony held on the 12th at IBK Finance Tower in Euljiro, Seoul, Lee Jong-won, Head of Management at Gongyoung Home Shopping (left), and Choi Kwang-jin, Vice President of IBK Industrial Bank, are taking a commemorative photo.

For small business owners who have difficulty obtaining financial loans due to insufficient collateral compared to small and medium enterprises, a 'Loan Guarantee System' has been newly established. IBK Industrial Bank of Korea, Korea Credit Guarantee Fund, Korea Technology Finance Corporation, and Gyeonggi Credit Guarantee Foundation will support financial costs such as guarantee fees up to 1.2%. Through this agreement, loan interest rates have also been further reduced. Small and medium enterprises will receive an automatic reduction of 2.8 percentage points per annum in loan interest rates, and small business owners will receive a reduction of 3.3 percentage points. These figures are 0.2 percentage points and 0.7 percentage points lower, respectively, compared to before.

Jo Seong-ho, CEO of Public Home Shopping, said, "The biggest concern for many small and medium enterprises and small business owners who visit Public Home Shopping is that even though they have excellent technology and product capabilities, it is not easy to overcome financial and management difficulties." He added, "Following the Sangsaeng Fund that we have been promoting since last year, we aim to effectively operate this Sangsaeng Plus Fund, a support system for small and medium enterprises and small business owners that alleviates worries about interest and guarantees, to foster the value of mutually beneficial growth."

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