IS Dongseo Extends Mutual Growth Fund with Industrial Bank of Korea for One Year

[Financial News] IS Dongseo will extend for one year the mutual growth fund it operates with Industrial Bank of Korea to ease its partner companies’ financial burdens.
According to IS Dongseo on the 14th, the company recently extended its mutual growth cooperation agreement with Industrial Bank of Korea and decided to continue operating the KRW 6 billion mutual growth fund.
As a result, eligible partner companies can receive interest-rate discounts of up to 3.64% when taking out loans. The maximum discount has increased by 1.27 percentage points this year, from 2.37% last year.
The extension of the fund is intended to address partner companies’ financing needs amid continued uncertainty in the business environment, including the downturn in the construction industry and rising financial costs. As IS Dongseo carries out projects with various partner companies at major construction sites, it plans to continue providing mutual-growth support for the sustainable growth of both the sites and its partner companies.
An IS Dongseo official said, "Continuously establishing a foundation that enables partner companies to receive practical financial support when they need it is also an important mutual-growth activity. We will continue mutual-growth programs in various areas, including not only financial support but also safety, technology and education, so that we can grow together with our partner companies."
In addition to financial support, IS Dongseo operates mutual-growth programs for partner companies, including efforts to establish a fair-trade culture, provide technology support and strengthen safety-management capabilities.
IS Dongseo owns the apartment brand Eileen’s Garden and the mixed-use residential and commercial brand W, and has supplied approximately 40,000 homes cumulatively nationwide. Its main businesses include housing and urban redevelopment projects and concrete manufacturing, and it is also expanding into the eco-friendly energy sector.

[email protected] Choi A-young Reporter