IBK Industrial Bank of Korea said on Tuesday it held a joint work briefing involving public institutions affiliated with the Financial Services Commission.

The joint briefing was attended by eight public institutions under the Financial Services Commission, including the bank. The bank presented its productive finance plan and measures for comprehensive financial and non-financial support for small and medium-sized enterprises and small merchants.

The bank plans to support more than 300 trillion won in productive finance over five years through 2030 under its IBK-style Productive Finance 30-300 project. It plans to expand funding for productive areas such as advanced and innovative industries, startups and venture companies, and regional SMEs, and to drive growth in industry and regions.

It also plans to actively pursue comprehensive financial and non-financial support to help SMEs and small merchants grow and address management difficulties. The measures include expanded liquidity support for SMEs, leading investment in venture capital, and support for consulting and digital transformation.

Acting CEO Kim Hyung-il said, "Productive finance is the responsibility of IBK as a policy bank and what we do best." He added, "We will actively participate in the government's policy of a major shift in finance toward productive sectors."