Suwon City Teams Up with IBK Industrial Bank to Attract High-Tech Investments

Suwon City in Gyeonggi Province is joining forces with IBK Industrial Bank to seek the designation of the "Suwon Free Economic Zone" and attract investments from high-tech companies.

On September 15, Suwon City announced that it had signed a "mutual growth business agreement for the designation of the Suwon Free Economic Zone and the promotion of high-tech company attraction" with IBK Industrial Bank in the situation room at City Hall.

Under the agreement, the two organizations have pledged to actively cooperate to lay the foundation for corporate growth, promote investment, and revitalize the local economy. They also agreed to collaborate in investment attraction and promotional activities to secure the designation of the Suwon Free Economic Zone.

In addition, they will work together to attract corporate investments and develop preferential financial products for companies that are based in or wish to move to Suwon, joining forces to advance Suwon's economic development.

Lee Jaejun, Mayor of Suwon (right), is taking a commemorative photo after signing a business agreement with Kim Sungtae, President of IBK Industrial Bank, on the 15th. Provided by Suwon City

The two organizations also signed a business agreement on the same day to establish a new support program for small and medium-sized business facility funding. Under this program, companies relocating to Suwon or startups will benefit from reduced interest rates on loans.

Suwon City plans to collaborate with IBK Industrial Bank, a national policy financial institution, to create a business-friendly environment and support the growth of innovative companies.

Kim Sungtae, president of IBK Industrial Bank, said, "IBK Industrial Bank has shared joys and sorrows with Suwon City for 61 years as its main depository bank, and we will actively cooperate to help Suwon develop into a city that is business-friendly. I believe this agreement will provide a great opportunity for IBK Industrial Bank, Suwon City, and its citizens to grow together."

Lee Jaejun, mayor of Suwon, stated, "Suwon City and IBK Industrial Bank have built a brotherly relationship over 61 years of friendship. As Suwon pursues the designation of the Suwon Free Economic Zone and works to become a more business-friendly city, IBK Industrial Bank's support will help us go further and achieve even greater things."

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