[Asia Economy Reporter Kwon Haeyoung] IBK Industrial Bank of Korea announced on the 31st that it will introduce the 'Ultra-Low Interest Rate Special Loan Easy Guarantee Service,' which allows one-stop processing of guarantee certificate review, issuance, and loans at the bank, starting from the 6th, to provide swift financial support to small business owners and self-employed individuals.
On the same day, IBK held a signing ceremony for the easy guarantee service agreement with the Regional Credit Guarantee Foundation (Regional Credit Foundation) at the IBK headquarters in Euljiro, Seoul, attended by Park Young-sun, Minister of SMEs and Startups. According to this agreement, IBK will act on behalf of the Regional Credit Foundation in reviewing and issuing guarantee certificates, reducing the number of customer-submitted documents from about 10 to 4. Additionally, on-site inspections will be omitted to simplify the procedures for issuing guarantee certificates.
Minister Park Young-sun stated, "This agreement is very meaningful as it establishes a swift liquidity support system by expanding financial support channels for small business owners."
President Yoon Jong-won said, "Ahead of the outsourcing of guarantee services in early April, we will introduce an odd-even system based on birth year and an application reservation system to prepare for initial congestion," adding, "Through measures such as deploying an additional 368 headquarters staff to branches, we will ensure that funds are quickly provided to small business owners in urgent need."
IBK had previously deployed 143 wage-peak employees to branches on the 17th to support shortening the guarantee certificate review and issuance period.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
