Role as a Policy Bank
Key Articles of the IBK Act
IBK is a government-owned bank specialized in SME Financing in accordance with the IBK ACT
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Purpose
Promotion of the independent economic activities of SMEs and their economic position in the national economy
Article 1
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Appointment of CEO
Appointment of a Chair & CEO of IBK by the President of the Republic Korea
Article 26
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Business Plans
Government approval of IBK's annual business plan
Article 35
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Issuance of SMIF Bonds
IBK may issue SMIF Bonds (Small and Medium Industry Finance Bonds) up to 20 times of the paid-in-capital
Article 36-2
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Government's Guarantee on Bonds
Government's guarantee on the payment of interest & principal of IBK's SMIF bonds, subject to approval from the National Assembly
Article 36-5
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SME Research
Research and business consulting for SMEs
Article 33-3
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Solvency Protection
Government's obligation to provide funds to cover in case of IBK losses
Article 43
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SME Lending
Mandate to allocate at least 70% of total funding for SMEs
Enforcement Decree 31
