IBK partners with Hungarian development bank to support small exporters

Industrial Bank of Korea (IBK) signed a memorandum of understanding with the Hungarian Development Bank (MFB) in Budapest, Hungary, Oct. 2 (local time), the Korean state-run lender said Monday. The agreement seeks to strengthen bilateral cooperation in supporting small and medium-sized enterprises (SMEs) from both countries, bolstering their entry into each other's market, as well as cooperation in financial research. The agreement comes amid growing challenges faced by SMEs in the context of rapid changes in global trade conditions. Hungary is a strategic gateway to the European market, positioning the SME-focused Hungarian development bank as a facilitator to strengthen lending, investment and guarantee programs and businesses. The two agreed to collaborate in establishing a joint fund to provide financial support for businesses operating in both countries, especially Korean startups seeking to expand their presence in European markets. They will also strengthen bilateral research and knowledge exchange on SME financing. The partnership is expected to enable IBK to enhance its capabilitiWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times