IBK Corporate Bank announced on the 24th that it will strengthen support for export and import corporations to overcome the crisis caused by the recent surge in exchange rates.
The Corporate Bank will expand the special system for extending foreign currency loan periods until next year. It will support a period extension of up to one year without principal and installment repayments for corporations holding foreign currency loans. Additionally, when extending the maturity of time-limited import letters of credit for import corporations, it will waive collateral deposits and expand the extension period from monthly increments to a maximum of three months.
In addition, it will actively provide new liquidity support for export and import corporations facing difficulties due to rising raw material prices and logistics costs. It will comprehensively support the resolution of challenges faced by export and import corporations through loans such as the Crisis Recovery Support Loan, which allows for interest rate reductions of up to 1.5 percentage points, liquidity support loans for export and import corporations, and export plus guaranteed loans.