Yoon Jong-won: "No Plans to Convert IBK into a Holding Company for the Time Being"
[Asia Economy Reporter Park Sun-mi] Yoon Jong-won, President of IBK, dismissed on the 18th any plans to convert into a holding company for the time being.
During a written press conference held that day, President Yoon stated, "The conversion to a holding company has both advantages and disadvantages, and it can only be pursued if the benefits outweigh the drawbacks," adding, "Right now is the time to focus our capabilities on supporting small and medium-sized enterprises affected by COVID-19."
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He explained, "For the time being, we plan to focus on enhancing synergy with subsidiaries within the current system," and "By leveraging the strengths of each subsidiary to provide comprehensive financial services, we will increase the execution power of the innovative finance initiatives IBK is promoting and recently expand investments in financial subsidiaries to strengthen the foundation for supporting innovative finance."
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