The photo shows Seo Jeong-hak, Head of the CIB Group at IBK Industrial Bank (right), and Cha Seong-jin, Director of the Korea Press Foundation, posing for a commemorative photo after signing a win-win growth business agreement at the Euljiro IBK Finance Tower on the 24th. Photo by [Photographer's Name]
[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank of Korea announced on the 25th that it has signed a ‘Win-Win Growth Business Agreement for Realizing Social Value’ with the Korea Press Foundation.
Under this agreement, the Korea Press Foundation will deposit 2 billion KRW with IBK, which will use these funds to support ‘Win-Win Growth Cooperative Loans.’
The loan targets are government advertising partner companies recommended by the foundation that are struggling due to COVID-19. The loan limit is up to 50 million KRW per company, and IBK will automatically reduce the loan interest rate by 1.3%p annually for these companies.
An IBK official said, “We hope this will help alleviate the financial difficulties of small and medium-sized enterprises affected by COVID-19 and aid in overcoming the crisis.”
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