IBK to Lead New Age of Inter-Korean Economic Cooperation
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IBK to Lead New Age of Inter-Korean Economic Cooperation
CEO Kim unveils new map for the bank¡¯s operation on its 57th anniversary marked Aug. 1, including expansion overseas and reentering Kaesung Ind. Complex in N. Korea to remove border lines between two Koreas

29(Wed), Aug, 2018





President Kim Do-jin delivers his congratulatory speech at a ceremony on Aug. 1 celebrating the 57th anniversary of the Industrial Bank of Korea(IBK) held at the bank¡¯s head office in Eulziro, downtown Seoul. (Photos: IBK)



The Industrial Bank of Korea will work so hard that its funds will flow into worksites, declared President Kim Do-jin on the occasion of the bank¡¯s 57th anniversary on Aug. 1, which was celebrated in a ceremony held at the bank¡¯s head office in Euljiro, downtown Seoul.


 He added that the finance industry should play a role in the development and create social values, and capital should be invested in industrial facilities so they can develop technologies which will create jobs.


 His message to employees was that they should help put into work the government¡¯s basic policy to make finance productive and inclusive. The IBK CEO outlined that the bank should be able to overcome four obstacles ahead for its further progress as a financial institution.


"We need to leave our past behind and stop taking the path we are so used to, but move beyond the boundaries," Kim told his employees. He said IBK should enter North Asia and East Europe and the Kaesung Industrial Complex in Kaesung, North Korea, to erase the border lines dividing the two Koreas.


The bank for small- and medium-sized enterprises has taken a leap over the years, joining the global top 100 banks without having to rely on mergers and acquisitions.
But the time is ripe for IBK to fully transform itself into a digital bank for the future.


"Digital is where we need to recreate ourselves and find a new edge," Kim said. "Through the adoption of new technologies and systems, the bank will be able to change like you have never seen before."
To this end, IBK will push forward in expanding its online banking services.


But above all, he said it is important for the bank to maintain customer trust and respect, while keeping vigilance as the global market faces turbulence amid the trade dispute between the United States and China.
Kim also stressed the importance of seeking opportunities abroad in regions such as Southeast Asia, Europe and Northeast Asia.


This includes being at the forefront of backing companies that will do business in North Korea in the future.
"The bank should lead in supporting inter-Korean business relations as the two Koreas work toward reconciliation,¡± Kim said. The Industrial Bank of Korea has been strengthening its financial support plan for SMEs across the country with the aim of creating 100,000 jobs. The organization is developing financial products that are conducive to economic growth, sends congratulatory money to those who found new jobs and offers other financial assistance.


In his congratulatory speech on the bank¡¯s anniversary, President Kim Do-jin pledged to provide financial support to the SMEs to help create 100,000 jobs by 2022.


The bank signed cooperative agreements to achieve its job creation target with a number of public associations, including the Korea Technology Finance Corp. (Kibo), the Women Enterprise Support Center, the Korea Credit Guarantee Fun (Kodit), and the City of Suwon.


IBK signed an agreement with the Kibo to provide financial support to the technology-driven SMEs to stabilize their jobs under which the bank will provide 700 million won as support funds for technology credit guarantees. Kibo will in return issue 10 billion won worth of technology credit guarantees to the technology-driven SMEs to help them get financial help for operation.









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