BPA and IBK Expand Win-Win Fund for SME Co-Growth to 18 Billion KRW

Busan Port Authority (BPA) extended its "Win-Win Growth Cooperation Loan Agreement" with IBK Industrial Bank on the 27th to support liquidity for small and medium-sized enterprises (SMEs) in the Busan and Gyeongnam regions.

In 2014, BPA became the first port authority to establish a Win-Win Growth Cooperation Loan Fund (Win-Win Fund) with a scale of 2.5 billion KRW, and has since increased the fund annually, providing low-interest loans to a total of 260 SMEs by 2022.

With this year’s extension agreement, BPA and IBK Industrial Bank each increased their contributions by 1 billion KRW, expanding the Win-Win Fund from the previous 16 billion KRW to 18 billion KRW, and plans to start support from the 27th.

The support targets SMEs in the shipping and port logistics sectors in the Busan and Gyeongnam regions, women-owned businesses, enterprises for the disabled, job-creating companies, and early-stage startups, with support provided after loan screening by IBK Industrial Bank.

In particular, BPA emphasized that as a public institution aiming to expand ESG management, early-stage startups have been newly included as support targets starting this year.

Busan Port Authority.

The maximum loan limit per company is 500 million KRW, and selected companies will receive an interest rate reduction of 2.03 percentage points from the market interest rate. Depending on the company’s transaction contribution and credit rating, an additional reduction of up to 1.40 percentage points may be applied.

BPA plans to actively support liquidity for SMEs struggling with the shipping and port industry downturn and high loan interest rates, helping them stabilize management and achieve sustainable growth.

Companies wishing to participate can apply after consultation and inquiry at IBK Industrial Bank branches in Busan and Gyeongnam. For more details, contact the BPA ESG Management Office’s Win-Win Fund representative.

Kang Jun-seok, President of BPA, said, “We hope this will help the business activities of SMEs related to Busan Port who are facing difficulties securing liquidity, and we will continue to actively discover and promote various win-win collaboration activities to stabilize SME management.”