IBK Industrial Bank Launches Special Support for Regional Balanced Development and Advanced Industry Fostering

IBK Industrial Bank announced on October 22 that it will implement the "Regional Advanced Innovation Industry Special Support Program" to promote balanced regional development and foster advanced strategic industries.

This program has been designed to strengthen support for industrial complexes in each region, aiming to bridge the growth gap between the Seoul metropolitan area and local regions, as well as to foster advanced industries. The support targets small and medium-sized enterprises engaged in advanced strategic industries that either acquire land in industrial complexes or purchase their own business premises within industrial zones. IBK Industrial Bank plans to provide these companies not only with funds for land acquisition and business premises, but also with capital for constructing buildings and facilities, as well as for purchasing machinery.

Key benefits include offering preferential interest rates up to 1.5 percentage points lower than those in the Seoul metropolitan area for companies located in local regions, and providing specialized consulting services for the establishment of intelligent manufacturing plants. For new client companies utilizing loans, a "Congratulations on Employment Success" incentive will be provided to help alleviate the financial burden of hiring new employees.

An IBK Industrial Bank representative stated, "We are implementing this program to support balanced national development and the fostering of advanced strategic industries," adding, "We will continue to do our best to contribute to national economic growth through various support measures for small and medium-sized enterprises."

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