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Daegu City, KODIT, and iM Bank Launch 100 Billion KRW Financial Support for Vulnerable Sectors
Finance · Regional Banks · yonhap_finance · 2026-09-08
Daegu City, the Korea Credit Guarantee Fund, and iM Bank have partnered to provide 100 billion KRW in loan guarantees and interest subsidies to local SMEs.
What Happened
Financial Support Partnership: Daegu City, the Korea Credit Guarantee Fund (KODIT), and iM Bank have signed an agreement to provide 100 billion KRW in financial support to local SMEs in vulnerable industries. This initiative aims to assist sectors such as construction, wholesale, and retail that are currently facing economic headwinds.
Program Details: Under the agreement, iM Bank will contribute 2 billion KRW, while KODIT will provide 100 billion KRW in guaranteed loans. Daegu City will subsidize 1.5%p of the interest rate for one year to alleviate the financial burden on these businesses.
Expected Benefits: Eligible SMEs can receive up to 1 billion KRW in working capital. Combined with interest subsidies and guarantee fee reductions, companies could save up to 2%p in annual financial costs, aiding their recovery and growth.
Application Process: Consultations and applications for these loans will begin on the 9th. Interested businesses can visit any iM Bank branch or KODIT office located in Daegu for further details and support.