IBK Industrial Bank, Golfzon China Local Franchise Financial Support Business Agreement

Golfzon China Launches Specialized Loan Products for Franchisees

On the 10th, at the Golfzon Park China flagship store located in Beijing, China, Yoon Sang-yoon, Head of IBK Industrial Bank of Korea China Limited (third from the left), Park Sung-bong, CEO of Golfzon China (second from the left), and other officials posed for a commemorative photo after signing the agreement.

[Asia Economy Reporter Jin-ho Kim] IBK Industrial Bank announced on the 23rd that it has signed a business agreement with Golfzon China to expand indoor golf infrastructure in China and support the successful establishment of local franchise stores.

According to the agreement signed on the 10th, IBK Industrial Bank China Limited will launch a customized specialized loan product that supports up to 5 million yuan (approximately 900 million KRW) per franchise store for up to 2 years when Golfzon China franchise stores purchase screen golf equipment.

Yoon Sang-yoon, CEO of IBK Industrial Bank China Limited, said, "We expect that this agreement will enable both institutions to create synergy and become leaders in popularizing indoor golf in China," adding, "We will continue to provide customized local financial support through agreements with domestic companies planning to enter the Chinese market."

Meanwhile, IBK Industrial Bank China Limited has been partnering with the Wuhan Municipal Finance Bureau, Hubei Provincial Re-guarantee Group Co., Ltd., and others since July to support promising small and medium-sized enterprises facing financial difficulties locally, and plans to launch loan products similar to guaranteed loans.