Kieun Provides 300 Billion KRW Emergency Financial Support to Small Businesses and SMEs Affected by Heavy Rain

IBK Industrial Bank announced on the 12th that it will provide special support worth 300 billion KRW to help small business owners and SMEs affected by nationwide heavy rains recover quickly.

IBK Industrial Bank plans to support working capital and facility damage recovery funds up to 300 million KRW for small business owners and SMEs affected by the heavy rains, and reduce loan interest rates by up to 1.0 percentage point.

Additionally, when existing loans mature, the bank will support maturity extensions of up to one year without principal repayment and defer installment repayments.

IBK Industrial Bank is actively responding to minimize damage spread by monitoring the damage status in real time to provide comprehensive support for companies affected by the heavy rains.

An IBK Industrial Bank official stated, “We hope this will help small business owners and SMEs affected by the nationwide heavy rains recover and stabilize their management early.”