K Bank Big Hit Entertainment IPO Subscription Exclusive Credit Loan Event

[Asia Economy Reporter Kim Min-young] K-Bank is launching a credit loan event to be used as subscription deposit funds for Big Hit Entertainment's public offering.

On the 24th, K-Bank announced that it will start an event where 10,000 customers selected by lottery will be loaned part of the subscription deposit for Big Hit's general investors and then receive interest cashback.

K-Bank explained that this event was planned to improve the reality where small investors do not even get a chance to invest in the highly competitive market of high-quality public offering subscriptions. Big Hit, the agency of the group BTS (Bangtan Sonyeondan), is planning to be listed on the stock market next month and is considered the biggest IPO candidate recently amid the 'public offering craze.'

This event can be applied for on the K-Bank application (app) until the 3rd of next month, two days before Big Hit's general investor subscription. Selected customers can receive up to 45 million KRW in the ‘Credit Loan Plus’ product without interest burden, depending on the balance of their K-Bank-NH Investment & Securities linked account.

For example, if there is 5 million KRW in the securities linked account, the customer can borrow up to 45 million KRW from K-Bank and use a total of 50 million KRW for the public offering subscription. Customers without a K-Bank-NH Investment & Securities linked account can open a securities linked account on the K-Bank app by the 4th of next month.

The maximum loan limit is restricted to 45 million KRW, and the funds cannot be used for purposes other than the Big Hit public offering subscription. Loans may be restricted depending on the customer's credit rating or existing loan amounts.

Interest incurred during this loan event period will be fully refunded to customers in the form of cashback on the loan repayment date, which is also the subscription deposit refund date (the 8th of next month).

A K-Bank official said, “Small investors will have the opportunity to experience public offering subscriptions through this event,” adding, “We will continue to launch innovative services that consider our customers to fulfill the purpose of establishing an internet-only bank.”