IBK Industrial Bank, 60th Anniversary Global Academic Conference

Yoon Jong-won, Bank President, "Will Strengthen Support for SME Competitiveness Based on Research Results"

At the Global SME Finance Academic Conference commemorating the 60th anniversary held on the 20th at the Industrial Bank of Korea headquarters in Euljiro, Seoul, IBK President Yoon Jong-won (fourth from the right), Korean Economic Association President Jung Jin-wook (third from the right), and conference attendees are posing for a commemorative photo.

[Asia Economy Reporter Sunmi Park]IBK Industrial Bank of Korea announced on the 20th that it held a global SME finance academic conference in collaboration with the Korean Economic Association to commemorate its 60th anniversary.

Under the main theme of "The Digital Era: The Present and Future of SME Finance," the event was held at IBK's headquarters in Seoul. Experts in domestic and international SME finance and digital fields participated both online and offline, with the program consisting of a keynote speech, panel discussions, and presentations of outstanding research papers.

In his welcoming remarks, IBK President Yoon Jong-won said, "This is a meaningful occasion to discuss the direction of SME innovation and the future roadmap of SME finance in an era of great transformation such as the pandemic, digitalization, and ESG. We plan to reflect the results of research support projects and expert opinions in IBK's support to enhance the competitiveness of SMEs."

World Bank Director Aihan Kose, who delivered the online keynote speech, stated, "In 2021, Korea became the most innovative country in the world through digital technology," and explained, "The future Korea will be able to support emerging countries through an inclusive financial system built on past growth experiences and innovative technologies." In the speech under the sub-theme "The Present and Future of SME Finance: Innovation, Inclusion, and Sustainability," Lamia Kamal-Chaoui, Director of the Organisation for Economic Co-operation and Development (OECD), emphasized, "An innovative cooperative organization is needed to fundamentally enhance the resilience of SMEs," urging continuous cooperation between IBK and international organizations.

In the final session, awards and presentations were given for three outstanding papers selected from ten research projects chosen through the SME academic paper contest held by IBK in January. These included studies on ▲Factors Influencing Startup Investment Decisions ▲Machine Learning-Based Valuation for SME Investment ▲IP Finance Support Research.