IBK Bank is expanding financial support for small and medium-sized enterprises (SMEs) and microenterprises in collaboration with the Credit Guarantee Fund. The initiative aims to alleviate the financial burden on companies facing high interest rates and economic slowdown while providing scale-up funding for those with growth potential.
On July 9, IBK Bank announced that it signed a 'business agreement to promote inclusive and productive financial support' at its headquarters in Euljiro, Seoul, with the Credit Guarantee Fund.
The agreement is designed to reduce the financial costs for SMEs and support the growth of companies with future growth potential.
The two organizations plan to expand financial support in the areas of inclusive finance and productive finance, and establish a cooperative system to enhance industrial competitiveness.
They also intend to identify new support areas for collaboration. The goal is to broaden the scope of cooperation beyond simple funding to ensure that the financial support needed on the ground translates into business growth.
IBK Bank President Jang Min-young stated, "In a situation where uncertainties persist both domestically and internationally, cooperation among policy financial institutions is becoming increasingly important for enhancing the competitiveness of SMEs. Based on our collaboration with the Credit Guarantee Fund, we will support inclusive and productive finance to achieve tangible results in the field."
Meanwhile, IBK Bank has signed four business agreements with the Credit Guarantee Fund this year, providing a total of 1.46 trillion won in financial support aimed at reducing financial costs and supporting the growth of SMEs.
* This article has been translated by AI.
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