IBK Industrial Bank supplies 180 billion KRW in venture capital from January to April... "127% increase"

Supply of 510.7 Billion KRW from Last Year to End of April This Year
Plan to Support 1.5 Trillion KRW by 2022

[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank of Korea announced on the 20th that it supplied 330.7 billion KRW in venture capital last year and has supplied 180 billion KRW through April this year, recording a 127% increase compared to the same period last year.

The bank stated that this result reflects the determination of President Yoon Jong-won, who emphasized the key role of supplying venture capital. To strengthen support for innovative companies, IBK announced a plan to supply 1.5 trillion KRW in venture capital from last year through next year, focusing investments on new growth and innovation sectors (ICT services, bio-medical, knowledge-based services). Through this, the number of companies successfully going public (IPO) sharply increased from 3 in 2019 to 10 in 2020.

This year, three companies have been listed, and an additional three companies are preparing for IPOs in the first half of the year. Samyoung S&C, which will be listed on the 21st of this month, is a company possessing core technology related to environmental sensors and has succeeded in developing ultra-fine dust detection sensors. Following that, ADM Korea, which provides comprehensive clinical trial services to pharmaceutical companies and bio ventures, and Innodep, a specialized company in intelligent video surveillance systems based on video analysis technology, are preparing for their listings in June.

IBK aims to achieve successful IPOs for 15 companies by the end of this year. A bank official stated, “We will continuously strengthen support for innovative companies and establish ourselves as a specialized venture capital bank.”

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