Banks expand IP-backed loans in line with K-culture promotion drive

Major commercial banks are accelerating the expansion of intellectual property (IP)-backed lending, offering financing secured by assets such as copyrights and patents, in line with President Lee Jae Myung’s recent push to promote Korean culture, industry officials said Tuesday. These loans, based on companies’ technologies and creative content, align with the Lee administration’s goal of fostering productive finance, which seeks to redirect funds previously tied to real estate or dependent on interest income toward advanced industries. At the same time, banks are building mutually beneficial ties with the content industry to enhance brand visibility through partnerships with popular K-dramas and webtoons, amid Korean culture’s growing global influence and commercial appeal. By September, the total outstanding balance of IP-backed loans at Korea’s five major banks — KB Kookmin, Shinhan, Hana, Woori and NH NongHyup — reached 1.36 trillion won ($947 million), up from 1.34 trillion won at the end of last year. Shinhan Bank has been increasing its IP-based financing for tech coWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times