Triple the original 20 billion won commitment

iM Bank and Korea Gas Corporation signed an expanded MOU for their mutual-growth fund at iM Bank's headquarters in Suseong-dong, Daegu, on Wednesday. From left: iM Bank President Kang Jeong-hun and Korea Gas Corporation President Hong Ui-rak. [iM Bank]
iM Bank and Korea Gas Corporation signed an expanded MOU for their mutual-growth fund at iM Bank's headquarters in Suseong-dong, Daegu, on Wednesday. From left: iM Bank President Kang Jeong-hun and Korea Gas Corporation President Hong Ui-rak. [iM Bank]

iM Bank and Korea Gas Corporation are tripling their mutual-growth fund to 60 billion won ($44.9 million) to expand financing support for small and medium-sized enterprises and small business owners in Daegu and North Gyeongsang Province, up from the original 20 billion won.

iM Bank announced Thursday that the two institutions signed an expanded MOU for the fund — formally titled the "Mutual-Growth Fund for a Better Local Economy" — at iM Bank's headquarters in Suseong-dong, Daegu, on Wednesday. The agreement adds 40 billion won in lending resources to the existing framework.

The fund will be structured as a one-to-one matching arrangement, with each institution contributing 30 billion won. The combined pool will serve as a lending resource for small and medium-sized enterprises and small business owners in Daegu and North Gyeongsang Province.

The expanded agreement is designed to ease the financial burden on local businesses and support their operational stability. The two institutions said they plan to broaden the scope of financial assistance and foster a virtuous cycle of production, investment and employment in the region.

"This expansion of the mutual-growth fund is aimed at easing the financial burden on local small and medium-sized enterprises and small business owners and supporting their stable operations," iM Bank President Kang Jeong-hun said. "We will continue to build on our partnership with Korea Gas Corporation to deliver meaningful financial support to local businesses and pursue mutual-growth finance that grows alongside the community."


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