The state-run Industrial Bank of Korea launched a consulting service platform to support small firms and startups last week, bank officials said.
IBK said it opened IBK ChangGongong at its Guro branch in southwestern Seoul on Oct. 1.
The platform provides select startups with free offices, mentoring from experts, patent, tax and legal services, according to officials.
IBK CEO Kim Do-jin (second from left) and FSC Chairman Choi Jong-koo (third from left) attend the opening ceremony of IBK ChangGong at its Guro branch in southwestern Seoul on Oct. 1. IBK
In addition, they said, the bank will support their loans, investment relations and business networking.
In the opening ceremony, IBK CEO Kim Do-jin, Financial Services Commission Chairman Choi Jong-koo, ruling party lawmaker Min Byung-doo, who is currently chairman of the National Assembly’s Policy Committee, and other dignitaries attended.
“IBK ChangGong is becoming the representative platform of Korea’s startup acceleration,” bank CEO Kim said. “In order to make the IBK ChangGong a real cradle for startups, IBK is going to open additional support centers and incubate 500 startup companies by 2022.”