KB launches initiative to help SMEs get financing

Home > Business > Finance

print dictionary print

KB launches initiative to help SMEs get financing

KB Financial Group launched a committee to expand financing for promising small- and medium-sized companies (SMEs) on Monday, in line with the government’s push to help smaller businesses.

The committee will consist of around 12 high-ranking officials - mostly the CEOs of KB’s financial affiliates - with KB Chairman Yoon Jong-kyoo at the helm.

The team will be responsible for managing a fund worth 2 trillion won ($1.72 billion) over five years while KB Investment, an investment arm of the holdings unit, will take the lead, according to a statement by KB Financial Group.

KB Kookmin Bank will be focused on developing different loan products for smaller companies with lower capital reserves by taking intellectual property and machinery assets as security against lending.


By Park Eun-jee

More in Finance

Seoul stocks buoyed by global economic indicators

SK Biopharmaceuticals a barn-burner on first day of trade

Seoul stocks jump up on hopes of economic recovery

Seoul stocks inch down as U.S.-China tensions grow

Lime fund sellers on the hook for 100 percent of losses

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now