IBK Industrial Bank of Korea said on Thursday it held a "consultative meeting of policy finance institutions" with policy lenders at Korea Development Bank's headquarters in Seoul's Yeouido district to expand productive finance and signed a memorandum of understanding.

Attendees included IBK chief executive Jang Min-young (장민영), as well as officials from Korea Development Bank, Korea Credit Guarantee Fund, Korea Export-Import Bank, Korea Trade Insurance Corp and Korea Technology Finance Corp.

The meeting was arranged under instructions from the Financial Services Commission and was 추진됐다 to strengthen cooperation among policy finance institutions focused on productive finance and support government policy goals.

The participating institutions selected seven core areas for joint and cooperative projects, including expanding cooperative projects under the National Growth Fund and strengthening regional finance, and built a collaboration framework.

Jang said combining expertise among policy finance institutions could lead a major shift toward productive finance even in an uncertain environment. He said the meeting and agreement would be used as momentum to expand cooperative projects and work to generate tangible results.