IBK Industrial Bank of Korea has set up a total of 1.5 trillion won in loan support programs for small merchants and small and medium-sized enterprises. It will help companies facing higher interest burdens after government and local government policy funding periods end by allowing refinancing of existing loans. It will also provide funds for business operations and facility investment to companies backed by guarantees from credit guarantee foundations.

Chief executives of South Korea\'s five biggest banks faced sharp questioning at a National Assembly audit over loan-rate calculations, personal data leaks and consumer protection. Lawmakers alleged banks offset cuts in add-on rates mandated by a legal revision by reducing preferential rates to raise interest income. KB Kookmin Bank and NH NongHyup Bank were pressed on rate adjustments. KB Kookmin also faced scrutiny over its initial response to a hacking incident, while lawmakers criticised unspent security budgets and compensation systems.