500 Billion KRW Loan Product
with Preferential Interest Rates and Higher Limits
On May 16, IBK Industrial Bank of Korea announced the launch of the "IBK Customized National Property Loan" as part of a business agreement signed with Korea Asset Management Corporation (KAMCO) in November last year to enhance customer convenience in the use of national property.
This is a specialized loan product with a total scale of 500 billion KRW, offering preferential interest rates and loan limits to promote the sale of idle national property.
The loan is available to small and medium-sized enterprises (SMEs) and mid-sized companies that have successfully bid for or entered into private contracts for national property through KAMCO.
The program provides up to 5 billion KRW in facility funds per company and offers an interest rate reduction of up to 1.3 percentage points.
Industrial Bank of Korea expects that this product will greatly contribute to reducing maintenance costs for national property, expanding government finances, creating new business opportunities for companies, and revitalizing the local economy.
An official from Industrial Bank of Korea stated, "Given the deterioration of both domestic and global economic conditions, we have launched a product that will benefit both the nation and the local economy," adding, "We will continue to do our best as a policy financial institution."
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