IBK Industrial Bank to Provide 200 Billion Won in Support for Mid-Credit Tech Firms

IBK Industrial Bank is set to provide 200 billion won in financial support to mid-credit technology firms that possess strong technical capabilities but have lower financial ratings.

On June 23, IBK Industrial Bank announced the launch of the "IBK Advanced Innovation Growth Promising Company Loan," aimed at supporting small and medium-sized enterprises (SMEs) in future growth sectors, including national strategic industries.

The initiative is designed to assist venture and technology companies facing challenges in securing funding during the early stages of technology development and commercialization. Eligible companies are those recognized for their excellent technical capabilities by public and private institutions while operating in advanced innovation sectors. The bank will provide up to 5 billion won in operating and facility funds per company and reduce the loan interest rate by up to 1.4 percentage points.

This year, IBK Industrial Bank has allocated 1.35 trillion won for financial support to companies in the advanced industry sector, aiming to alleviate funding difficulties for SMEs.

An IBK official stated, "We launched this product to ensure that SMEs with technological capabilities can secure growth opportunities in line with national strategic technology development and the policy to become a global leader in science and technology and artificial intelligence. We will continue to expand productive financial support to strengthen the competitiveness of SMEs."