IBK Investment & Securities and Yuamco Establish 200 Billion KRW Corporate Financial Stability Fund
Contributing to Business Normalization of Small and Medium Enterprises Facing Difficulties Due to COVID-19 Through Financial Support
Kim Hyung-il, Executive Vice President and Head of the Innovation Finance Group at IBK Industrial Bank (right), Kim Seok-min, CEO of UAMCO (center), and Seo Byung-ki, CEO of IBK Investment & Securities (left), are taking a commemorative photo after signing the 'Corporate Financial Stability PEF Business Agreement' at the IBK Investment & Securities headquarters in Yeouido on the 5th.
View original image[Asia Economy Reporter Eunmo Koo] IBK Investment & Securities announced on the 5th that it has signed a business agreement with UAMCO (Union Asset Management Company) and IBK Financial Group at the IBK Investment & Securities headquarters in Yeouido, participating in the establishment of a 200 billion KRW Corporate Financial Stability Fund.
UAMCO is a corporate restructuring specialist company whose main tasks include operating and investing in the Corporate Financial Stability Fund and acquiring non-performing loans. IBK Financial Group and UAMCO pursued this agreement to support the normalization of domestic companies facing difficulties and to contribute to revitalizing the regional economy by helping sustainable growth.
According to the agreement, the two companies will mutually cooperate on various support programs such as discovering companies subject to corporate restructuring, investment and loan support, sharing management know-how, and consulting for restructuring companies.
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Seobyungki, CEO of IBK Investment & Securities, stated through this agreement, “We will actively support the recovery and normalization of small and medium-sized enterprises suffering from the economic recession caused by COVID-19, and contribute to establishing a sound capital market ecosystem through private-led corporate structural innovation.”
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