Industrial Bank of Korea (024110.KS) said on the 25th that it will write off 120 billion won ($87 million) in long-overdue debt by the end of the year, benefiting about 5,000 vulnerable borrowers. The bank will first cancel 67.5 billion won owed by about 3,600 borrowers by next month, followed by a further 52.5 billion won for about 1,400 borrowers by year-end. The move is part of the bank's inclusive-finance support for people struggling with prolonged debt collection.