IBK Industrial Bank Supplies 2.5 Trillion Won in Venture Capital to Innovative Companies Over Three Years

Support for About 3,000 Companies
34 Firms Successfully Listed

IBK Industrial Bank announced on December 2 that it has provided 2.5 trillion won in venture capital to innovative venture startups from January 2023 through last month.

IBK Corporate Bank Headquarters, Euljiro, Jung-gu, Seoul. Industrial Bank of Korea

The bank supported approximately 3,000 companies with 764.1 billion won in 2023, 986.5 billion won last year, and 809.6 billion won in venture capital from January to November this year. An additional 140 billion won is planned to be supplied by the end of this month.

Since 2023, 34 companies that received venture capital from IBK Industrial Bank-including Laontech (display), ASICLand (semiconductors), APR (cosmetics), Graphy (materials), Autocrypt (security), and G2GBio (biotech)-have gone public.

The bank explained that these achievements are the result of CEO Kim Seong-tae’s emphasis on supporting innovative small and medium-sized enterprises to overcome the “death valley” (growth stagnation period), facilitating their scaling up, and highlighting the importance of venture capital.

An IBK Industrial Bank official stated, “We will actively support innovative companies so that we can become a growth ladder for them,” adding, “We will continue to expand the supply of venture capital and contribute to the activation of productive finance.”

Meanwhile, through its startup incubation platform IBK Changgong, the bank has discovered and nurtured 1,158 innovative startups as of last month. It is providing comprehensive support for startups’ scaling up, including investment and loans, consulting, investor relations, and global expansion.

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