IBK Industrial Bank Launches 1 Trillion KRW 'Special SME Financial Support Program'

Support for 1 Trillion Won in Operating and Facility Funds... Up to 1.5 Percentage Points Reduction in Loan Interest Rates

IBK Industrial Bank announced on the 21st that it has launched a 1 trillion KRW-scale ‘Special Financial Support Program for Promising Growth SMEs’ to expand financial support for small and medium-sized enterprises (SMEs) operating in sectors requiring policy financial assistance.

The support targets promising growth SMEs including ▲companies with innovative value (companies engaged in innovative products, companies with excellent technological capabilities), ▲companies with industrial value (companies in the materials, parts, and equipment industry, companies fostering the root industry), ▲companies with social value (ESG outstanding companies, companies with new facility investments), and ▲companies with growth value (Innovative Companies National Representative 1000, Korea Small Giants Association certified small giants, etc.).

Through this program, IBK Industrial Bank will provide low-interest funds by reducing loan interest rates by up to 1.5 percentage points and support companies’ new facility investments by relaxing screening criteria related to facility fund loans.

An IBK Industrial Bank official said, “We hope this support will help alleviate the financial difficulties of promising growth SMEs struggling with high interest rates and high inflation,” adding, “We will continue to expand the scope of support to secure future growth engines for SMEs.”

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