Active Participation in Revitalizing the People's Economy
Low-Interest Loans up to 1 Billion KRW for Partner SMEs
IBK Industrial Bank of Korea announced on the 20th that it signed a 'Win-Win Growth Agreement to Support a Vibrant Livelihood Economy' with Korea Midland Power Co., Ltd. (President Kim Ho-bin) at the IBK Finance Tower in Euljiro, Seoul.
Under this agreement, Korea Midland Power will contribute 350 million KRW in loan interest support funds, and IBK will use this fund to provide win-win growth cooperative loans worth 35 billion KRW.
The loan targets are small and medium-sized enterprises cooperating with Korea Midland Power, including ▲companies participating in the payment-linked system, ▲companies using the win-win payment loan, ▲members of the overseas joint advancement council, ▲export companies such as industrial materials (power generation equipment), and ▲companies registered in the SME technology market.
The loan limit is up to 1 billion KRW per company, with an automatic interest rate reduction of 1.0 percentage point (P) per annum. Additionally, depending on transaction contribution and credit rating, an additional reduction of up to 1.4 percentage points will be applied.
An IBK official said, "We hope this agreement will help stabilize the management of SMEs and revitalize the livelihood economy," adding, "We will continue to strive to create social value through win-win cooperation with public institutions."
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