Yoon Jong-won, CEO of Industrial Bank of Korea, Supplies 1.5 Trillion Won in Venture Capital After 2 Years and 8 Months in Office

The Fruits of Innovation Finance Emphasized Since Inauguration
Leading as a Catalyst for SME and Venture Growth

On August 1st, at the IBK Industrial Bank of Korea headquarters in Euljiro, Seoul, Yoon Jong-won, President of IBK Industrial Bank of Korea, is delivering a commemorative speech at the 'IBK Industrial Bank of Korea 61st Anniversary Ceremony'.

[Asia Economy Reporter Song Hwajeong] IBK Industrial Bank announced on the 22nd that the amount of venture capital supplied has surpassed 1.5 trillion KRW. This achievement was reached about 2 years and 8 months after setting a plan to supply 1.5 trillion KRW of venture capital over 3 years since the inauguration of President Yoon in January 2020.

Since the beginning of his term, President Yoon has focused on discovering innovative companies with excellent technology and high growth potential. In particular, he has consistently supplied venture capital to small and venture companies with outstanding technology and growth potential, even without collateral or stable financial performance, playing a driving role in corporate growth.

In fact, among the companies invested in by IBK, the number of companies that succeeded in initial public offerings (IPO) sharply increased from 3 in 2019 to 10 in 2020 and 13 in 2021 after President Yoon’s inauguration, supporting the growth of small and venture companies.

Additionally, as a policy bank, IBK is taking the lead in supporting early-stage startups, an area often neglected by private investment. As of August, startups accounted for 65.6% of the newly supplied direct investment amount, making up about two-thirds of the total.

Beyond this capital supply, IBK contributes to reducing the failure rate of early-stage startups by providing various support measures such as expanding the startup nurturing platform (ChangGong), consulting, follow-up investments, and technology finance support.

President Yoon stated, "To lead the venture capital market and enhance the dynamism of the Korean economy, we plan to supply an additional 2.5 trillion KRW of venture capital over the next three years starting next year," adding, "We will continue to expand our role as a catalyst for the growth of small and venture companies."

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