IBK to Provide 300 Trillion Won Over Five Years for Major Shift to Productive Finance

Industrial Bank of Korea (IBK) announced that it will invest more than 300 trillion won by 2030 to drive a major shift toward productive finance.

Kim Hyungil, Executive Vice President of IBK and Acting President, stated at a Financial Services Commission work briefing held at the Seoul Government Complex in Jongno-gu, Seoul on January 13, "To focus on productive finance, we are launching the '30-300 Project,' which will provide over 300 trillion won in productive finance support over the next five years."

The bank plans to allocate 250 trillion won to the small business sector and 20 trillion won to venture investment infrastructure. Additionally, 37.8 trillion won will be invested in consumer-centric trust finance, and 10 trillion won will be invested in the National Growth Fund. The National Growth Fund will primarily focus on investments in energy and infrastructure.

Kim explained, "IBK plans to invest the National Growth Fund mainly in the energy and infrastructure sectors," adding, "We will coordinate closely with Korea Development Bank to avoid overlapping investments."

To promote productive finance, IBK has also launched its own task force. Kim said, "We will strengthen internal controls and ensure that subsidiaries such as IBK Capital also participate in the major transformation toward productive finance," adding, "We will ensure the smooth implementation of productive finance."