Financial Services Commission Chairman Visits IBK Changgong: "IBK Venture Investment to Invest 500 Billion Won Over 3 Years"

Kim Ju-hyun, Chairman of the Financial Services Commission, stated on the 1st, "To prevent startup companies from falling into the 'Valley of Death' during their growth stage, IBK Industrial Bank of Korea will take the lead in early-stage investment through its venture subsidiary (IBK Venture Investment), which is scheduled to be established in the first quarter."

On the 8th, one day before the launch of the mortgage refinancing service through the mortgage loan transfer intermediary system, an on-site inspection of the refinancing loan infrastructure opening was held at the Financial Settlement Service Bundang Center in Seongnam City. Financial Services Commission Chairman Kim Ju-hyun is speaking. Photo by Heo Young-han younghan@

On the same day, Chairman Kim attended the 'IBK Changgong Guro Corporate Meeting' held at IBK Changgong Guro in Guro-gu, Seoul, and said, "Currently, there is a lack of early-stage investment in the venture and startup investment market. (The venture subsidiary) is expected to fill this blind spot in support, complement the shrinking venture ecosystem, and expand the existing support system."

The meeting was attended by Chairman Kim and IBK Bank President Kim Sung-tae, along with representatives from six companies participating in IBK Changgong Guro: N1Tech Co., Ltd. (special metal parts), FortyTwoMaru Co., Ltd. (artificial intelligence), PearlFit Co., Ltd. (shoe recommendation platform), Hopae Co., Ltd. (blockchain identity verification), Tilda Co., Ltd. (SME AI services), and VillageBaby Co., Ltd. (pregnancy and childcare platform).

IBK Changgong, visited by Chairman Kim, is an abbreviation of 'Startup Factory' and is IBK Industrial Bank of Korea’s startup nurturing platform supporting startup companies. It is located in six places nationwide, including Guro, Mapo, Busan, Seoul National University, Daejeon, and UNIST. Since its opening, IBK Changgong has discovered a total of 707 startup companies, supported loans amounting to 309.2 billion KRW, attracted investments totaling 1.1494 trillion KRW, and provided 10,491 mentoring, consulting, and investor relations (IR) sessions.

At the meeting, the company representatives shared success stories of growth through IBK Changgong support and introduced various startup support measures of IBK Changgong. President Kim announced plans including ▲ supplying more than 1 trillion KRW in venture and startup venture capital this year (an increase of over 30% compared to the previous year) ▲ opening additional IBK Changgong centers in Gwangju and Daegu ▲ strengthening overseas expansion support through the establishment of an IBK Europe Desk.

In particular, IBK Bank established IBK Venture Investment, the first venture capital (VC) subsidiary set up by a policy bank to serve as a catalyst in the venture capital market, in December last year. IBK Venture Investment plans to register as a new technology business finance company in the first quarter and promote the formation and investment of venture funds worth more than 500 billion KRW over the next three years.

Chairman Kim said, "These support measures will serve as a ladder of opportunity for the entrepreneurs gathered here today and those interested in startups, and will greatly benefit our economy. The government will also strive to support the challenges of innovative entrepreneurs with excellent technology through continuous support and work to secure the future competitiveness of our economy."

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