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Finance

iM Bank, Daegu City, KODIT to provide 100 billion won support for SMEs in vulnerable sectors

iM Bank will provide about 100 billion won in financial support for local small and medium-sized firms in economically vulnerable sectors such as construction, together with Daegu City and the Korea Credit Guarantee Fund. Under the agreement, iM Bank will contribute 2 billion won to the fund, including 1.2 billion won in a special contribution and 800 million won for guarantee fees, and plans to supply about 100 billion won in loans.

People & Appointments

iM Financial, FSS Daegu-Gyeongbuk office to provide financial education for 100 young people

iM Financial Group will run an eight-week financial education program for 100 young people in the Daegu and North Gyeongsang region with the Financial Supervisory Service\'s Daegu-Gyeongbuk office. iM Financial Group\'s iM Social Contribution Foundation held a launch ceremony on Sept. 7 at iM Bank\'s second headquarters. The curriculum, based on a pre-survey, runs every Friday through November across three levels, with lecturers from iM Financial, the FSS office and the National Pension Service.

Finance

Small business sales up 4.5 percent but margins fall for second straight quarter; delinquencies rise

South Korean small business sales rose 4.53 percent in the second quarter from a year earlier, but profit margins fell for a second straight quarter as expenses increased faster, a report by Korea Credit Data showed. Average revenue per business was 47.11 million won, while average spending rose 5.83 percent to 35.22 million won. Delinquent amounts on sole proprietors’ loans rose 4.3 percent from the previous quarter to 15.2 trillion won.