Kim Sung-tae, CEO of Industrial Bank of Korea, "Reform Plan to Be Implemented Swiftly with Sincerity"

Kim Sung-tae, President of IBK Industrial Bank of Korea, stated on the 3rd, "We plan to promptly implement the opinions from the Renewal Committee with genuine sincerity."

On the afternoon of the 3rd, Kim responded to reporters' questions about "how we intend to specifically support the Renewal Committee" by saying this. He said, "We have given full authority to the Renewal Committee," and added, "If the Renewal Committee presents opinions, we will sincerely and swiftly carry them out."

IBK Industrial Bank of Korea disclosed a breach of trust incident amounting to 23.95 billion KRW in January. Subsequently, the Financial Supervisory Service announced that the improper loan amount involving current and former employees was 88.2 billion KRW. In response, IBK held the first meeting of the IBK Renewal Committee on the 1st and began preparing measures to prevent recurrence.

On the 26th of last month, at the expanded executive meeting held at the Seoul headquarters of IBK Industrial Bank, Kim Sung-tae, President of IBK Industrial Bank, is presenting an apology letter and a renewal plan. Photo by IBK Industrial Bank

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