[2021 National Audit] IBK "Received 6.3 Billion Won in Fees from Seongnam-eutteul"
[Asia Economy Reporter Park Sun-mi] Yoon Jong-won, President of IBK Industrial Bank of Korea, confirmed that it is true that the bank received a commission of about 6.3 billion KRW related to its stake in Seongnam Utddeul.
On the 15th, during the National Assembly inspection by the Political Affairs Committee, Yoon Doo-hyun, a member of the People Power Party, asked whether IBK received a commission from Seongnam Utddeul under the name of loan arrangement and participation. President Yoon answered that they did receive it.
Rep. Yoon pointed out that a significant portion of the commission provided to IBK is omitted in the financial statements of Seongnam Utddeul's audit report and confirmed with President Yoon whether the commission was indeed received. IBK invested 400 million KRW in Seongnam Utddeul and holds an 8% stake.
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In response, President Yoon stated, "According to IBK's report, commissions of 1.263 billion KRW in 2016, 3.552 billion KRW in 2017, and 1.544 billion KRW in 2018 were recorded," and confirmed, "It is correct that the commission details should be included in the reports of both institutions."
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