IBK Industrial Bank, 69.4 Billion KRW 'Autonomous Program for Livelihood Finance Support Measures' Implemented
Guarantee Fee Cashback Support + Contribution from the Korea Inclusive Finance Agency
IBK Industrial Bank announced on the 2nd that it will implement a 69.4 billion KRW Livelihood Finance Support Plan autonomous program, following the interest cashback support under the common program of the Livelihood Finance Support Plan that has been in effect since February.
This Livelihood Finance Support Plan autonomous program consists of a 41.6 billion KRW 'Bank's Own Program,' including guarantee fee cashback support, and a 27.8 billion KRW 'Policy Support Program,' including contributions to the Korea Inclusive Finance Agency and support for low-interest refinancing programs.
Under the 'Bank's Own Program,' IBK will provide ▲ guarantee fee cashback support for guaranteed loans to young and middle-aged startup companies and small business owners (19.7 billion KRW) ▲ interest rate reduction support for ultra-low interest loans to small business owners (20.4 billion KRW) ▲ living subsidies and academic scholarships for multicultural families (1.5 billion KRW).
The guarantee fee cashback amount will be paid by IBK selecting eligible customers without a separate application process. Approximately 69,000 companies are expected to benefit.
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An IBK official stated, “We will continue to provide practical support that beneficiaries can feel through various livelihood finance support programs that broadly support not only small business owners but also various vulnerable groups.”
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