Kim Seong-tae Takes Helm of IBK as 27th President, Vows Better Service For Small Companies
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Kim Seong-tae Takes Helm of IBK as 27th President, Vows Better Service For Small Companies
IBK signs agreements with 16 venture investment institutions, including venture capital companies and accelerators

29(Sun), Jan, 2023

Kim Seong-tae, new president of IBK, speaks at the 27th president’s Inauguration Ceremony at the headquarters of IBK in Jung-gu, Seoul on January 3. (Photo: IBK)

IBK announced on Jan. 3 that Kim Seong-tae took office as new president of IBK in an inauguration ceremony at the company’s head office in Euljiro, Jung-gu, Seoul.

“We are in a complex crisis and uncertain situation that we have never experienced before,” President Kim said in his inaugural address as the 27th president of IBK. 

Kim presented two key themes - a strong bank and upright finance - with regard to realizing more valuable finance. 

First of all, Kim emphasized that in order to build a strong bank, IBK must be faithful to the roles of policy finance. 

“IBK will actively respond to the government’s policies to help the Korean economy secure future growth engines, and after placing a top priority on helping small and medium-sized enterprises and small business owners overcome crises,” Kim added.

“Internally, we will strive for balanced growth between corporate and personal finance, loans and investment, while strengthening our profit generation base of our global business through a digital transformation,” Kim said.

As for the second key theme, “upright finance,” Kim emphasized that IBK will expand its roles to maintain strong trust with customers and increase social value. 

To this end, he said, “We will complete a management system where nothing is more important than customers and do our best to prevent financial accidents through airtight internal control.”

In addition, Kim expressed his will to actively support the financially marginalize and those in the fields of culture, art, and sports who have not yet received attention and take the lead in green finance and ESG management.

“IBK will create a constructive labor-management culture through communications and personnel management culture centered on competency and performance,” Kim emphasized regarding IBK becoming a fair and energetic organization. 

Lastly, Kim asked on IBK employees to become a beacon of Korean finance and guide SMEs, customers, and the financial industry to opportunities and take off for a better future.

After his inauguration ceremony, Kim visited IBK Changgong Mapo, trading company Dongbo and an IBK branch in the Namdong Industrial Complex as his first official schedule as IBK president.

IBK Changgong is a start-up development platform of Industrial Bank of Korea that provides investment and loans, mentoring, and office space to innovative start-up companies. From December to 2022, 538 companies were nurtured. 

“The growth of small and medium-sized enterprises in Korea will determine Corporate Korea’s future national competitiveness,” Kim said. 

“Technology is the only way of survival for small and medium-sized enterprise. IBK will help promising small and medium-sized enterprises to grow into world-class companies.”

Next, at the branch at the Namdong Industrial Complex, President Kim encouraged IBK employees and listened to their grievances and difficulties. 

“I will continue to listen to the voices of IBK employees in the field and create a workplace where employees take price in working for IBK and work happily,” Kim said. 

In the meantime, IBK announced on Jan. 12 that it signed business agreements with a total of 16 venture investment institutions, including venture capital companies and accelerators to give IBK venture loans and create an ecosystem for early start-ups.

Through the business agreements, IBK will give loans to companies recommended by venture investment institutions and prepare various financial support measures, such as creating a fund to vitalize the venture capital ecosystem and joint investment in companies powered by new and innovative technologies. 

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