IBK, Homeplus Partners Receive 300 Billion KRW Financial Support... 500 Million KRW Per Company

"Loan Interest Rate Reduced by Up to 1.3 Percentage Points"
"Extension of Existing Loan Maturities and Deferred Repayments"

IBK Industrial Bank announced on the 11th that it will provide special support worth 300 billion KRW to assist Homeplus corporate rehabilitation procedure partner companies.

Euljiro IBK Industrial Bank of Korea Headquarters, Jung-gu, Seoul. Provided by Industrial Bank of Korea

IBK Industrial Bank will support operating funds such as payment for goods and salaries up to 500 million KRW per company for Homeplus partner companies. The loan interest rate will also be reduced by up to 1.3 percentage points.

At loan maturity, the bank will support maturity extensions of up to one year without principal repayment and will defer repayments on installment payments.

IBK Industrial Bank stated that it is actively responding to help partner companies stabilize their management quickly by monitoring Homeplus accounts receivable payment status in real time.

An IBK Industrial Bank official said, "We have decided to provide prompt support so that small and medium-sized partner companies that have suddenly suffered damage can stand up again," adding, "We will continue to seek various financial support measures to quickly provide practical help to partner companies."

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