Chairman of the Korea Federation of SMEs Visits IBK Industrial Bank to Celebrate 60th Anniversary

Thanking Industrial Bank of Korea for 60 Years of Dedicated Support to Small and Medium Enterprises

The photo shows Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business (right), visiting the IBK Industrial Bank headquarters on the 29th and presenting a congratulatory bouquet for the 60th anniversary to Yoon Jong-won, President of IBK Industrial Bank (left).

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank announced on the 29th that Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, visited the bank celebrating its 60th anniversary and expressed gratitude for its efforts to support small and medium enterprises (SMEs) over the past 60 years.

At this event, both organizations pledged to continue working together to overcome crises and enhance the competitiveness of SMEs, just as they have strived to improve the economic status of SMEs in both the real and financial sectors over the past 60 years.

Kim Ki-moon, Chairman of the Korea Federation of Small and Medium Business, said, “It is unimaginable what SMEs would have been like without IBK Industrial Bank during the growth process of our economy,” expressing appreciation for the bank’s role in supporting SMEs in response to numerous crises and the demands of the times. IBK Bank President Yoon Jong-won responded, “Just as we have been a reliable pillar for SMEs through good times and bad over the past 60 years, we will continue to stand by SMEs unwaveringly.”

Established on August 1, 1961, under the Small and Medium Enterprise Bank Act, IBK Industrial Bank is on the verge of becoming the first financial institution to surpass KRW 200 trillion in SME loan balances. Notably, last year, the bank supported overcoming the COVID-19 crisis by providing approximately KRW 9 trillion in ultra-low interest special loans to about 270,000 small business owners, extending maturities and deferring interest for SMEs, supplying KRW 24 trillion in new funds, and offering rent reductions for buildings.