IBK, Seoul Economic Promotion Agency Sign MOU to Support Discovery and Commercialization of Excellent Companies

Supporting Commercialization through Open Innovation Operations

IBK Industrial Bank announced on the 5th that it has signed a business agreement with the Seoul Business Agency at Seoul Startup Hub Gongdeok to discover outstanding companies and expand the open innovation ecosystem.

Through this agreement, IBK Industrial Bank and the Seoul Business Agency will promote various collaborations at IBK 1st LAB and Seoul Startup Hub, which they operate respectively, including ▲discovering outstanding startup and fintech companies and operating open innovation ▲supporting the growth of startup and fintech companies and programs for attracting investment.

IBK 1st LAB is an experimental space that verifies whether external technologies and ideas can be applied to the bank's products, services, and business processes. IBK Industrial Bank selects participating companies annually to jointly discover and commercialize technologies and ideas.

The Seoul Business Agency operates startup support spaces such as Seoul Startup Hub Gongdeok, Changdong, Seongsu, and M+, providing outstanding companies with office space, investment linkage support, global expansion support, and open innovation operations, playing a role in revitalizing Seoul's startup ecosystem.

Park Il-gyu, Vice President of IBK Industrial Bank's Digital Group, said, “Through this agreement, the two organizations will create synergy to provide more growth opportunities for outstanding companies,” adding, “IBK Industrial Bank will continue to show interest and support so that a startup and fintech ecosystem where bold ideas and technologies responsible for the financial future can be born will be established.”