SME Ombudsman-IBK Industrial Bank "Cooperation for Regulatory Innovation to Support SMEs and Small Business Owners"

The Small and Medium Business Ombudsman signed a 'Business Agreement for Regulatory Innovation for Small and Medium Enterprises (SMEs) and Small Business Owners' with IBK Industrial Bank of Korea at the IBK headquarters in Jung-gu, Seoul on the 29th.

Through this agreement, both organizations plan to actively cooperate on issues related to SMEs and small business owners, including ▲identifying and resolving regulations and difficulties, ▲promoting cases of regulatory innovation and encouraging regulatory improvement activities, ▲providing tailored support according to the stages of business growth, and ▲creating a sustainable and fair corporate ecosystem.

On the 29th, at the IBK Corporate Bank headquarters in Jung-gu, Seoul, Choi Seung-jae, Small and Medium Business Ombudsman (left), and Kim Sung-tae, President of IBK Corporate Bank, are posing for a commemorative photo at the business agreement ceremony.
[Photo by Small and Medium Business Ombudsman]

IBK Industrial Bank of Korea will strengthen its policy proposals to support SMEs, while the Small and Medium Business Ombudsman will expand channels to listen to voices from the field, continuously expanding cooperation to innovate regulations and open new management paths for SMEs and small business owners.

This agreement holds great significance for both IBK Industrial Bank of Korea, which supported small business owners with ultra-low interest special loans to overcome the COVID-19 pandemic, and the Small and Medium Business Ombudsman, which has long been at the forefront of protecting the rights and interests of SMEs and small business owners.

Kim Seong-tae, President of IBK, said, "Companies are facing many difficulties due to complex regulations, making regulatory innovation and response more important than ever," adding, "IBK will do its utmost to improve the regulatory environment for SMEs and small business owners and secure new growth engines."

Choi Seung-jae, the Ombudsman, stated, "I hope this agreement will contribute to creating a business-friendly environment by promptly resolving issues faced by SMEs and small business owners," and added, "The Small and Medium Business Ombudsman, which worked to resolve about 2,300 regulatory and difficulty cases this year, will continue to lead regulatory innovation and improvement of the business environment."

Meanwhile, since 2012, IBK Industrial Bank of Korea and the Small and Medium Business Ombudsman have jointly hosted the 'Korea SME Regulatory Innovation Awards,' which annually honors and encourages outstanding contributors to regulatory innovation and exemplary SMEs.

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