Industrial Bank of Korea (024110) retained Suwon's city treasury mandate for 2027 through 2030, Newsis reported Friday. The four year agreement covers approximately ₩3.9 trillion in annual city funds and was signed at city hall Thursday.
The bank will manage the city's general account, special accounts and funds under a single treasury arrangement. Its responsibilities include collecting the city's revenue and disbursing expenditure under the renewed agreement with the municipal government.
Bank president Jang Min-young said the bank's relationship with Suwon had continued for more than 60 years. The company's market capitalisation was ₩16.5 trillion at Friday's close.
kstock reads DART every morning and writes up what moved — the contract, the buyback, the number that does not add up. The daily post and a Saturday roundup, by email.
| Symbol | Last Price |
|---|---|
| 024110Industrial Bank of Korea | ₩20,700 -2.1% |