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Industrial Bank of Korea company logo
Bank
FINANCE | Retail Banking
ibk.co.kr

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Investments

96

Portfolio Exits

2

Funds

1

Partners & Customers

3

About Industrial Bank of Korea

Industrial Bank of Korea (KRX: 024110) is a global financial services group that provides financing to small and medium-sized enterprises (SMEs).

Industrial Bank of Korea Headquarters Location

IBK Bank 79 Eulji-ro 2-ga, Jung-gu

South Korea

+82-31-888-8000

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Latest Industrial Bank of Korea News

Vietnam emerges as strategic overseas partner for IBK, Hana

Jul 4, 2022

Posted : 2022-07-04 16:34 Updated : 2022-07-04 16:34 Industrial Bank of Korea (IBK) CEO Yoon Jong-won, sixth from right, poses with State Bank of Vietnam Deputy Governor Doan Thai Son, fifth from right, at the latter's office in Hanoi, June 27. Courtesy of IBK By Lee Min-hyung The Industrial Bank of Korea (IBK) and Hana Bank are moving to expand their footing in Vietnam due to the huge growth potential of the country's retail banking industry. Korea's major commercial lenders ― such as Shinhan Bank and Woori Bank ― are already operating subsidiaries in Vietnam and generating stable revenues there. According to data from the Financial Supervisory Service, Shinhan reaped an operating income of 441.1 billion won in its Vietnamese subsidiary last year, up 3.8 billion won from the previous year, despite the global pandemic shock. Woori chalked up an operating income of 97.2 billion won in 2021, up 26 percent from the previous year. Hana and IBK operate some sales offices there, but both of them have yet to receive a license to establish a Vietnamese subsidiary. Reflecting on the rapid growth of the country's financial market, IBK CEO Yoon Jong-won visited the country recently to discuss partnerships with government authorities for the lender to launch a subsidiary there. The state-run lender runs two sales offices in the Southeast Asian country, which are located in Hanoi and Ho Chi Minh City. During his five-day business trip to the country, Yoon met with State Bank of Vietnam Deputy Governor Doan Thai Son and a group of ranking government officials there. Yoon offered to expand corporate financing services for the country's small and medium-sized enterprises in exchange for the country's legal support to help the lender widen its presence there. Ho Chi Minh City, Vietnam / gettyimagesbank Hana Bank is another Korean lender accelerating its expansion into the Vietnamese market. Hana Bank CEO Park Sung-ho also took a business trip to the country in late April for talks with State Bank of Vietnam Governor Nguyen Thi Hong and officials from the Bank for Investment and Development of Vietnam. Hana Bank invested $1.74 million in the state-owned development bank's social program to expand their bilateral financial partnership down the road. "We are going to develop the relationship between Hana Bank and the Vietnamese lender into an advanced strategic partnership, thereby building an exemplary case for the two countries' economic ties," Park said.

Industrial Bank of Korea Investments

96 Investments

Industrial Bank of Korea has made 96 investments. Their latest investment was in Mycel as part of their Seed VC on August 8, 2022.

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Industrial Bank of Korea Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/15/2022

Seed VC

Mycel

$10M

Yes

2

8/10/2022

Series B

InterMINDs

$5.36M

Yes

1

7/29/2022

Series A

Air Klass

$7.64M

Yes

1

7/26/2022

Series A

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$99M

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10

7/7/2022

Series A

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$99M

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10

Date

8/15/2022

8/10/2022

7/29/2022

7/26/2022

7/7/2022

Round

Seed VC

Series B

Series A

Series A

Series A

Company

Mycel

InterMINDs

Air Klass

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Amount

$10M

$5.36M

$7.64M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

2

1

1

10

10

Industrial Bank of Korea Portfolio Exits

2 Portfolio Exits

Industrial Bank of Korea has 2 portfolio exits. Their latest portfolio exit was Seoul Store on April 08, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/8/2022

Acquired

$99M

1

6/15/2018

Corporate Majority

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$99M

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10

Date

4/8/2022

6/15/2018

Exit

Acquired

Corporate Majority

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

1

10

Industrial Bank of Korea Acquisitions

2 Acquisitions

Industrial Bank of Korea acquired 2 companies. Their latest acquisition was Bank Mitraniaga on April 30, 2019.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

4/30/2019

$99M

Acq - P2P

3

2/6/2018

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$99M

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10

Date

4/30/2019

2/6/2018

Investment Stage

Companies

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Valuation

$99M

$99M

Total Funding

Note

Acq - P2P

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Sources

3

10

Industrial Bank of Korea Fund History

1 Fund History

Industrial Bank of Korea has 1 fund, including IBK Recovery PEF.

Closing Date

Fund

Fund Type

Status

Amount

Sources

12/15/2010

IBK Recovery PEF

Restructuring/Distressed Debt

Closed

$89.2M

1

Closing Date

12/15/2010

Fund

IBK Recovery PEF

Fund Type

Restructuring/Distressed Debt

Status

Closed

Amount

$89.2M

Sources

1

Industrial Bank of Korea Partners & Customers

3 Partners and customers

Industrial Bank of Korea has 3 strategic partners and customers. Industrial Bank of Korea recently partnered with Seoul Business Agency on March 3, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

3/27/2022

Partner

South Korea

1

12/23/2020

Vendor

South Korea

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10

10/11/2004

Vendor

Switzerland

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10

Date

3/27/2022

12/23/2020

10/11/2004

Type

Partner

Vendor

Vendor

Business Partner

Country

South Korea

South Korea

Switzerland

News Snippet

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Sources

1

10

10

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