The Industrial Bank of Korea will lend 20 trillion won (US$19bn) to small- and medium-sized enterprises (SMEs) this year, up 5.3 per cent from a year earlier.
The state-run bank, which specializes in providing funding to small businesses, said the loans will be used to boost investments, technology development and other activities by SMEs.
About 4.5 trillion won will be used to finance the companies' facility investments, while an additional 1.5 trillion won will be used to support new technology development.
Source: Asia Intelligence Wire
