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IBK Industrial Bank of Korea to provide 200 billion won support to SMEs involved in navy vessel MRO

IBK Industrial Bank of Korea said on Monday it will provide 200 billion won in financial support to small and medium-sized enterprises involved in South Korea\'s navy vessel maintenance, repair and overhaul (MRO) business. The bank signed an agreement with the Korea Credit Guarantee Fund and the Korea Technology Finance Corp. Eligible firms are those with a track record in the programme or planning to participate. The bank plans to offer interest-rate cuts of up to 1.3 percentage points.