The Industrial Bank of Korea observed its 51st anniversary on Aug. 1 at a ceremony held at its head office in Euljiro, downtown Seoul, with over 400 officers and staff in attendance, led by President Cho Joon-hee. President Cho, in his congratulatory speech, said 51 years is a long time when looking at it from one’s own life. “Our given mission is to keep the company going and create jobs so that all of us might live happily together in the world that we have made.” 

He said the IBK cut interest rates and fees beginning last year as part of achieving such a world where all people can live together happily. The CEO also urged that every one of the officers and staff in every sector should be virtuous above and beyond the expectations of the people.

At a reception in the evening, the bank invited actor Song Hae and actress and model Kim Yu-bin, who both appear in the bank’s ads as models, and presented them with a citation of appreciation for their work. The bank presented 50 million won in cash in appreciation to Song whose ads for the bank attracted some 120 billion won in deposits.

The bank also held a ceremony to welcome the new members of the 9th Hall of Fame for Businessmen, President Moon Chae-soo of Myunghwa Industrial Co. and President Chung Tae-il of Korea OSC Co.

To commemorate the occasion, the bank announced that it has decided to cut the money transfer fee through ATMs by as much as 500 won and cut the interest rates for loans to SMEs and default charges, as announced in June.

 IBK clients will only pay 600 won to 1,000 won to transfer 100,000 won in funds from IBK ATMs at subways and from 1,000 won to 1,500 won in fees for funds over 100,000 won.