
Investments
96Portfolio Exits
2Funds
1Partners & Customers
3Industrial Bank of Korea Web Traffic
Industrial Bank of Korea Rank
Latest Industrial Bank of Korea News
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.
Industrial Bank of Korea Investments Activity
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 | |||||
7/7/2022 | Series A |
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 | ||
Amount | $10M | $5.36M | $7.64M | ||
New? | Yes | Yes | Yes | ||
Co-Investors | |||||
Sources | 2 | 1 | 1 |
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 | 1 | |||
Date | 4/8/2022 | |
---|---|---|
Exit | Acquired | |
Companies | ||
Valuation | ||
Acquirer | ||
Sources | 1 |
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 | Acq - P2P | 3 | ||||
2/6/2018 |
Date | 4/30/2019 | 2/6/2018 |
---|---|---|
Investment Stage | ||
Companies | ||
Valuation | ||
Total Funding | ||
Note | Acq - P2P | |
Sources | 3 |
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 | ||||
10/11/2004 | Vendor |
Date | 3/27/2022 | 12/23/2020 | 10/11/2004 |
---|---|---|---|
Type | Partner | Vendor | Vendor |
Business Partner | |||
Country | South Korea | ||
News Snippet | |||
Sources | 1 |
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