IBK Industrial Bank of Korea to Fully Invest in Regional Startups

Korea's Largest Venture and Startup IR Event
'IBK Changgong Fly High 100' Held

IBK Industrial Bank of Korea has launched a large-scale IR (Investor Relations) event to support startup fundraising. President Minyoung Jang emphasized that the bank will strengthen its role as a catalyst for productive finance, expand support for ventures and startups, and solidify the foundation for future growth.

On the 20th, Jang Minyoung, President of IBK Industrial Bank of Korea, delivers a welcome speech at the Grand Intercontinental Seoul Parnas. Photo by Lee Eunju.

The bank announced on April 20 that it held the 'IBK Changgong Fly High 100' event at the Grand InterContinental Seoul Parnas in Gangnam-gu, Seoul. The event was attended by more than 1,000 people, including representatives from ventures, startups, venture capital (VC) firms, financial institutions, and related organizations. The event was structured to have 100 companies give IR pitches and 48 companies participate in one-on-one investment consultations, covering five sectors: AI, advanced manufacturing and materials, digital and content, bio and healthcare, and energy and environment. Over 60% of the participating companies were based outside the Seoul metropolitan area, focusing on expanding investment opportunities for regional startups.

President Jang stated, "IBK Industrial Bank of Korea has played a key role in laying the groundwork for innovation by accompanying ventures and startups through the early stages of growth with IBK Changgong. Since 2017, we have nurtured over 1,200 companies across major regions nationwide, and we continue to expand our investments and support." He further stressed, "This event, the largest IR-focused event in Korea, provides pitching opportunities to 100 companies, more than 60% of which are local firms, and we have focused on addressing investment imbalances."

On the 20th at the Grand Intercontinental Seoul Parnas, Lee Seungwook, CEO of Newrisen, is giving a presentation. Photo by Lee Eunju.

President Jang added, "We have strengthened the foundation for collaboration among policy financial institutions by including companies recommended by Korea Development Bank and Korea Credit Guarantee Fund," emphasizing, "At a time of low growth and industrial restructuring, a major transition toward productive finance is necessary." He concluded, "As a catalyst for productive finance, IBK Industrial Bank of Korea will reinforce the nation's growth foundation by supporting ventures and startups."

Kwon Daeyoung, Vice Chairman of the Financial Services Commission, who also attended the event, said, "Today, there are 63 regional companies participating. Innovation in Korea does not belong to any one region." He continued, "I hope the two days of IR and consultations will lead to real investment, and that policy financial institutions such as Korea Development Bank, IBK Industrial Bank of Korea, and Korea Credit Guarantee Fund can provide seamless support from discovery to investment and guarantees as one team."

The event also featured a presentation by the CEO of Newriseon, a company that grew through IBK Industrial Bank of Korea’s support programs. Lee Seungwook, CEO of Newriseon and a graduate of the IBK Changgong startup incubation program, said, "As a regional company, we faced difficulties in securing funding, but IBK Industrial Bank of Korea recognized our growth potential and decided on early-stage investment." He added, "With support for both operating capital and facility investment, we were able to run our factory in Ulsan." He emphasized, "While most accelerators end their programs with graduation, IBK Industrial Bank of Korea continued to provide network connections and follow-up support, becoming a strong pillar for regional companies."

At the 'Fly High 100' event held on the 20th at the Grand Intercontinental Seoul Parnas, startups are participating in the IR event. Photo by Eunju Lee

At the IR event, startups with data-driven business models presented their competitiveness to investors. Notag Korea presented a commerce operating system (OS) aimed at entering the Southeast Asian market. Through its self-developed integrated logistics and sales system, the company automates the entire process from product registration to delivery and settlement, and plans to connect with local distribution networks to lower the barriers to overseas expansion for Korean brands.

Another company, IndieJ, showcased its "empathetic AI." By overcoming the limitations of conventional large language models (LLMs), it developed "Nuanchi AI," which recognizes user emotions and situations, and introduced technologies that enhance human interaction in physical AI environments. The company explained that it is seeking to expand into AI contact centers, mobility, and senior services, leveraging a database of more than 3 billion emotion recognition data points.

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