IBK-Association of Telecommunications Operators, Business Agreement to Support Innovative Startups
First IR Scheduled for the 10th
The photo shows Kim Hyung-il, Vice President of the Innovation Finance Group at IBK Industrial Bank (right), and Jung Wan-yong, Executive Vice Chairman of KTOA (left), posing for a commemorative photo after signing an agreement at the Korea Telecommunications Operators Association located in Gangnam-gu, Seoul, on the 8th. Photo by Kim.
View original image[Asia Economy Reporter Park Sun-mi] IBK Industrial Bank of Korea announced on the 9th that it has signed a 'Business Agreement to Support the Growth of Excellent Innovative Startups' with the Korea Telecommunications Operators Association (KTOA).
Through this agreement, the two organizations will establish a mutual cooperation system between IBK's startup incubation platform 'IBK Changgong' and the 'KTOA Startup Support Center' to support the growth of startups with excellent technological and business potential.
IBK will provide financial services such as investment and loans to companies recommended by KTOA. In addition, KTOA and IBK plan to jointly hold IR events twice a year. The first IR event is scheduled for the 10th, with participation from eight telecommunications operators seeking to discover and enter new businesses and eight IBK Changgong companies hoping to establish business connections.
An IBK Industrial Bank official stated, “We plan to continuously build a cooperative system with companies and institutions from various industries to expand market development for IBK Changgong innovative startups.”
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Meanwhile, IBK Changgong is a startup incubation platform that supports financial and non-financial services such as investment and loans, consulting, and office space. From December 2017 to last May, it supported 307 companies with financial services amounting to 282.1 billion KRW and provided 4,246 non-financial services including mentoring, consulting, and IR events.
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