Yoon Jong-won, CEO of IBK, to Meet Discovery Private Equity Fund Investors on the 8th

Yoon Jong-won, the new president of IBK Industrial Bank, is delivering his inaugural speech at the inauguration ceremony held on the 29th at the IBK headquarters in Euljiro, Jung-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Kim Min-young] Yoon Jong-won, President of IBK Industrial Bank, will hold a meeting with the representative group of investors from the Discovery private equity fund on the 8th.

IBK Industrial Bank announced on the 4th that the meeting with President Yoon, requested by the representative group of Discovery private equity fund investors on the 1st, is scheduled for the 8th.

The bank stated that this meeting will be an opportunity to listen to the opinions of the investors.

President Yoon said, “Although we have been operating the ‘Investment Product Bank-wide Response Task Force (TF)’ centered on the Executive Director, I judged that it is also necessary to hear the voices of investors before the board meeting scheduled for this month, so I plan to respond to the meeting request.”

The IBK board meeting is scheduled to be held on the 11th. It is known that IBK is discussing a plan to prepay 50% of the loss amount to compensate the victims. However, IBK’s position is that the decision on compensation can be made after confirming the loss rate. Since the investment product losses have not yet been confirmed, it is uncertain whether the compensation plan will be finalized on the 11th.

The ‘IBK Discovery Fund Fraud Victim Countermeasure Committee’ is reportedly demanding voluntary compensation of 110% of the principal.

An IBK official said, “We are making bank-wide efforts, such as separating and establishing the Financial Consumer Protection Group last month to strengthen the rights and interests of financial consumers,” and added, “We will continue to make efforts to alleviate customers’ difficulties caused by delays in the redemption of investment products.”

This content was produced with the assistance of AI translation services.