IBK, Mizuho Bank Sign Comprehensive Global Cooperation MOU

Diversifying Cooperation in Global Capital, IB, and Fostering Innovative Startups

IBK Industrial Bank announced on the 20th that it signed a comprehensive Memorandum of Understanding (MOU) with Mizuho Bank on the 19th at IBK’s headquarters in Jung-gu, Seoul, to expand domestic and international cooperation.

Through this MOU, both parties agreed to seek multifaceted cooperation in areas such as ▲funding collaboration ▲support for overseas branch growth ▲nurturing innovative startup companies ▲collaboration in Investment Banking (IB) business ▲corporate support research exchange. IBK and Mizuho Bank had previously signed a committed line contract worth 30 billion yen in April.

This MOU provides an opportunity for both institutions to prepare for financial market volatility through foreign currency procurement collaboration and to strengthen cooperation in high-quality IB business. Both sides plan to foster synergy in nurturing startups by mutually supporting the local commercialization and early settlement of innovative startups from Korea and Japan entering each other’s markets. Additionally, they will promote research exchanges related to corporate support to establish a foundation for future growth of both institutions.

Kim Sung-tae, President of IBK, stated, “This agreement holds great significance as another achievement enhancing cooperation between the two banks on the occasion of the 60th anniversary of the normalization of Korea-Japan diplomatic relations next year,” and added, “We expect it will also contribute to the development of enterprises in both countries and the strengthening of financial stability.”