IBK Industrial Bank of Korea Launches Specialized Loan Product to Support Tariff-Affected Companies

IBK Industrial Bank of Korea announced on September 4 that it will launch a specialized loan product called the "IBK Tariff-Affected Company Support Loan" on September 5, with a total scale of 1 trillion won, to support companies affected by U.S. tariff impositions.

This product has been prepared to provide emergency liquidity and promote early business stabilization for small and medium-sized enterprises, as well as mid-sized companies, facing difficulties due to changes in the international trade environment.

The target recipients are small and medium-sized enterprises and mid-sized companies that have suffered damages from U.S. tariffs, including those that export to or import from the United States directly or indirectly, as well as companies relocating their production bases domestically or overseas. IBK Industrial Bank of Korea plans to provide operating and facility funds of up to 20 billion won per company, and will offer interest rate reductions of up to 1.5 percentage points.

Since April, IBK Industrial Bank of Korea has operated a "Financial Support Consultation Desk for Tariff-Affected Companies," counseling a total of 13,093 companies by the end of July. Among them, the bank resolved 301 cases of difficulties, such as new funding and interest rate reductions, for 952 companies that experienced direct or indirect damages.

An official from IBK Industrial Bank of Korea stated, "We have developed this specialized product to address the management challenges faced by companies due to changes in the trade environment," adding, "We will continue to do our best to support small and medium-sized enterprises in crisis response and sustainable growth."

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