Industrial Bank of Korea (024110) joined state lenders in announcing a joint growth fund program, Dailian reported Monday. Korea Development Bank and Export-Import Bank of Korea are participating in the initiative to finance smaller businesses and overseas expansion.
The lenders each committed ₩150 billion toward the funds, according to their joint announcement. The program targets promising small and midsize businesses and venture companies working in emerging industries.
The institutions will jointly review proposals before selecting outside managers to operate the planned investment funds. The company's market capitalisation was ₩16.7 trillion at Monday'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 | ₩20,900 +1.0% |