IBK Industrial Bank of Korea presented a new growth strategy centered on support for small and midsize firms, AI-based digital transformation and stronger inclusive finance. Jang Min-young (장민영), CEO of IBK Industrial Bank of Korea, said, “IBK is a bank that has carried out productive finance for 60 years,” adding it will further strengthen its role as a policy financial institution in inclusive finance and balanced regional development.

At a news conference marking his 100th day in office on May 12, Jang said the financial industry is entering a period of rapid change and transition. He said he will build a new future for IBK that goes beyond existing frameworks, identifies new opportunities and proactively designs and executes growth engines for customers and industry.

He presented three directions for change at IBK: finance that leads change, innovation that realises potential, and management that delivers results.

On productive finance, he said it is proceeding smoothly under the “332 project”. He said he sees it being pursued as planned as of the first quarter.

He said key tasks are expanded support, inclusive finance and balanced regional development. He stressed that productive finance is a core role IBK has maintained over the past 60 years and he believes it can continue to do well.

Jang also said IBK will take a more active role in inclusive finance and balanced regional development.

He said it is an area commercial banks are relatively reluctant to engage in, and that IBK should play an active role as a policy financial institution. He said the bank will focus on support for provincial small and midsize firms and inclusive finance, and expand support based on higher price competitiveness than other banks.

On the direction of inclusive finance, he said IBK will build a support system spanning the full cycle of financial assistance, going beyond simply supplying low-interest loans.

Jang said, “Inclusive finance is not just about supplying funds, but includes how to support vulnerable groups and financial consumers after funding, and how to help them get back on their feet when problems arise.”

He also raised concerns about the current credit-rating system, which is now being discussed. He said it is worth considering whether, from the standpoint of financial consumers, it is reasonable that low-credit borrowers bear more interest even though high-credit and low-credit borrowers both repay faithfully.

He said the bank is internally reviewing whether it is right to apply high interest rates from the outset simply because a borrower has low credit, and whether it can provide greater rate benefits to customers who repay faithfully.

He also said that loans are currently classified as below fixed when interest is overdue for three months, and that the bank is reviewing a plan to expand the write-off range to up to 60 percent for small-sum loans. He said inclusive finance is unlikely to be merely supplying funds at low interest rates.

Jang also cited AI-based digital innovation as a key task. He said he will actively push the transition to an “AI-native bank” and build hyper-personalised AI banking, an AI-based credit screening system and an AI agent-centred work environment to provide differentiated value to both customers and employees.

He also set out a plan to secure new growth engines by expanding digital assets and global business. He said the bank will work to secure leadership in the digital asset market and strengthen its global financial network, and create new revenue models through data monetisation and partnerships with financial platforms.

Jang said the direction presented on the day is not simply a management strategy but IBK’s promise to move toward a better future together with South Korea’s small and midsize firms. He said the bank will find the direction of change from voices in the field and build a foundation for sustainable growth.