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SME Financing

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Title SME Financing
Similar Titles
Project Category Development Cases
Material Type Reports
Author(English)

Lee, Jeong Yun; Kim, Bokwang; Chin, Yongju; Kim, Hyo-Eui

Publisher

Seoul:Korea Development Institute

Date 2011
Project Development Cases
Series Title; No Knowledge Sharing Program: KSP Modularization
ISBN 978-89-8063-576-4; 978-89-8063-573-3(SET 10)
Pages 172
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Holding KDI; KDI School
Supervisor Korea Development Institute
Organizer Ministry of Strategy and Finance; Korea Development Institute
Sponsor Ministry of Strategy and Finance
Project Term 2010-01-01 ~ 2010-12-31

Abstract

This chapter examines the establishment and roles of Industrial Bank of Korea, the only government-owned bank specializing in small and medium sized enterprises (SMEs) in Korea. The review consists of four parts, covering the background of IBK, its establishment and growth over a half century, its roles and achievements, and comprehensive insights and implications. Section 1 provides the historical background for the foundation of IBK by describing the economic situations in the 1950s. In the 50s, the aftermath of the Korean War stroke the economy and the government was struggling to restore the economy. In order to promote the all-around economic expansion, it was considered indispensable to support SMEs and resolve their financial difficulties as they comprised a large proportion of the national industry.

Section 2 discusses the process of establishment of IBK from the outset to the official promulgation in 1961, examines its development over time, and analyzes its structure. It was first designed in 1957 and, after going through formal procedures, launched its business in 1961.(The rest omitted)

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