Jang Min-young takes office as the head of IBK Corporation... "Enhancing credit examination by combining corporate finance data with AI"
Jang Min-young has been inaugurated as the head of IBK, stating her commitment to transforming the bank into an AI-based financial institution.
Jang Min-young has officially taken over as the new head of IBK (Industrial Bank of Korea), announcing plans to leverage artificial intelligence (AI) in analyzing extensive corporate finance data for enhanced credit evaluation and decision-making processes. During her inauguration ceremony, she emphasized the critical role of small and medium enterprises in today's challenging economic climate marked by low growth and industry transformation. Jang aims to innovate financial practices by integrating data and technology, advocating for a shift in how financial services are provided.
She articulated her vision to refine the analysis, assessment, and health management of corporate financial data through AI, proposing to fortify tailored financial solutions aligned with the lifecycle of businesses. Additionally, Jang is set to implement the 'IBK-type productive finance project', which will involve a significant investment of 300 trillion won by 2030, focusing on future strategic industries such as AI, semiconductors, and energy, as well as supporting venture and innovative companies.
Moreover, Jang outlined her commitment to aiding small business owners and supporting local economies, with a comprehensive 75 trillion won policy aimed at providing low-interest refinancing, debt restructuring, and management consulting services to small entrepreneurs. Highlighting the bank's foundational competitive edge as customer trust, she promised to strengthen consumer protection measures, internal controls, and information security to effectively manage latent risks, thereby fostering a more robust banking institution. Her first official engagement involved visiting a busy branch in Seoul to encourage on-site staff and gain insights from frontline operations.