IBK launches 500 billion won 'AI Great Transformation' loan program

IBK on Tuesday launched its "AI Great Transformation Leap Loan" program to accelerate AI technology development and system adoption among domestic small and medium-sized enterprises and mid-sized companies.

Small and medium-sized enterprises and mid-sized companies pursuing technology innovation and AI transition are eligible. Each company can borrow up to 3 billion won ($1.95 million) in operating and facility funds, with interest rate reductions of up to 1.5 percentage points. The total loan pool is capped at 500 billion won.

IBK designed the product to advance "productive finance" — channeling funds into high-value future industries — and to support growth of the AI industry ecosystem.

The bank said it plans to focus on supporting AI technology companies and related downstream businesses that struggle to secure funding, while helping companies undergoing AI transformation, or AX, manage significant upfront investment costs.

IBK has also run the "IBK Changgong Silicon Valley Scale-Up Program," aimed at helping innovative and venture companies enter global markets. The bank provided mentoring to nine companies through its local US network.

"We developed this product so that small and medium-sized enterprises can seize new growth opportunities amid the sweeping industrial shift toward AI," an IBK official said. "We will continue to expand our role in productive finance to strengthen the competitiveness of small and medium-sized enterprises."