KT Alpha Shopping Establishes 10 Billion Won Mutual Growth Fund... "Shared Growth with Partners"

Financial Burden Relief for Outstanding SME Partners Starting in July
Collaboration with IBK, 10 Billion Won Mutual Growth Fund to Support Loans

On July 7, KT Alpha Shopping announced that it will introduce a financial support system for mutual growth with small and medium-sized partner companies, including the creation of a 10 billion won mutual growth fund and improved payment terms.

Based on a "Mutual Growth Agreement for Small and Medium Enterprises" signed with IBK Industrial Bank of Korea, KT Alpha Shopping will establish a 10 billion won mutual growth fund and use the interest generated from deposits to lower loan interest rates for small and medium-sized enterprises.

In addition, KT Alpha Shopping will apply special reduced interest rates to selected outstanding partner companies in need of operating funds, lowering loan interest rates by up to 3.06 percentage points compared to market rates to ease the financial burden on small and medium-sized partners.

Furthermore, the company will make settlement payments?which are processed three times a month?five days earlier and shorten the settlement cycle to help outstanding small and medium-sized partners experiencing cash flow difficulties manage their funds more smoothly.

Park Seungpyo, CEO of KT Alpha, stated, "We hope this financial support system will provide practical help in strengthening mutual growth with our partners and serve as an opportunity to further solidify our shared growth. We will continue to practice sustainable management to realize the value of mutual cooperation and enhance the effectiveness of various support policies."

Meanwhile, since June 2020, KT Alpha Shopping has been discovering and supporting socially responsible companies with competitive products through its mutual growth program "Value & Together," and is working to establish cooperative systems for mutual growth in various ways, including supporting small and medium-sized enterprises through broadcasts in collaboration with government agencies and local governments.