Industrial Bank of Korea announced on the 6th that it signed a business agreement with the Workers' Welfare Corporation on the 4th for a 'worker living stabilization fund loan project' worth 300 billion won.
Under the agreement, Industrial Bank of Korea plans to support long-term loans at lower interest rates than general credit loans for customers who received a recommendation from the Workers' Welfare Corporation to borrow living stabilization funds needed for their own or their children's weddings and for the upbringing of children under 7.
Related financial products are expected to be launched in early May after consultation with the Workers' Welfare Corporation.
Kim Sung-tae, president of Industrial Bank of Korea, said at the signing ceremony, "This will be a great help in establishing a growth foundation for small corporations and special types of workers."