GWANGJU < invest Korea

According to Newsis News,

(GWANGJU=Newsis News) The Gwangju Chamber of Commerce & Industry (Gwangju CCI) announced on November 23 that it will enter into an agreement with Industrial Bank of Korea (IBK) for mutual growth of small and medium-sized enterprises (SMEs) and start providing support fund of KRW 3 billion.

Under the agreement, the Gwangju CCI will deposit a fund of KRW 3 billion won at IBK. IBK will provide up to KRW 300 million in loans and interest subsidy of 0.85% + α to SME member firms temporarily experiencing financial difficulties. 

The Gwangju CCI earlier signed similar financial support agreement with Gwangju Bank in May. "We expect financial support services for member companies to become more active," an official from the Gwangju CCI said.

kykoo1@newsis.com

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