Korea Development Bank
The Korea Development Bank (KDB) is a wholly government-owned policy bank in South Korea, established on 23 September 1954 under the Korea Development Bank Act to supply and manage long-term industrial capital for fostering national economic development.[1][2] As a specialized institution focused on corporate banking, investment banking, and restructuring, KDB has historically channeled funds into heavy industries, infrastructure projects, and strategic sectors, playing a pivotal role in South Korea's post-war industrialization and rapid economic transformation known as the "Miracle on the Han River."[3][4] KDB's financing activities have supported key milestones, including equity investments in high-tech firms and small-to-medium enterprises, issuance of Korea's first social overhead capital (SOC) bond, and lead-management of global bond offerings exceeding USD 1 billion, contributing to the expansion of social infrastructure and industrial promotion.[1][3] Despite these accomplishments, the bank has encountered significant challenges, including substantial losses from distressed asset management during corporate crises such as the STX and Dongbu Group bailouts, where regulatory sanctions were imposed for inadequate due diligence and loan oversight.[5] As of 2024, KDB manages total assets exceeding 370 trillion South Korean won, positioning it as a major stabilizer in the financial system while prioritizing support for advanced industries and inclusive growth amid evolving economic priorities.[6][7] The institution continues to adapt its mandate, emphasizing sustainable development and international expansion, though past involvement in executive-level corruption probes and accounting irregularities at financed entities underscores risks inherent in its policy-driven lending model.[8][9]History
Founding and Early Development (1954–1960s)
The Korea Development Bank was established on April 1, 1954, as a wholly government-owned institution under the Korea Development Bank Act, initially named the Korea Reconstruction Bank, with the mandate to supply and manage long-term industrial capital for post-Korean War economic rehabilitation.[10][1] This creation addressed the acute destruction of South Korea's industrial base, where the war had obliterated much of the nation's infrastructure, leaving an economy heavily dependent on U.S. aid for basic survival and reconstruction.[11] The bank's primary objective was to channel funds into major projects, prioritizing sectors like power generation, steel, and foundational manufacturing to restore productive capacity and foster self-sustaining growth.[1] In its early operations during the mid-1950s, the bank extended long-term credits to key industries devastated by conflict, focusing on the restoration of war-damaged facilities and preemptively supporting base industries to prevent further economic collapse amid political instability under the Rhee Syngman administration.[12][1] This role complemented short-term commercial banking but emphasized patient capital for capital-intensive ventures, drawing initial funding from government allocations and international assistance to bridge domestic savings shortfalls in a war-ravaged economy averaging near-zero growth in the early postwar years.[13] Through the 1960s, as South Korea transitioned from reconstruction to developmental planning—marked by the launch of the First Five-Year Economic Development Plan in 1962 under President Park Chung-hee—the bank expanded its financing to nurture emerging industrial capabilities, providing targeted loans for infrastructure and manufacturing upgrades that aligned with export-oriented strategies.[12][14] This period saw KDB's assets grow through state backing, enabling it to underwrite projects in heavy and chemical industries, though operations remained constrained by pervasive corruption and limited private investment until stabilized policy frameworks took hold.[13] By the late 1960s, the institution had solidified its position as a cornerstone of state-led industrialization, having disbursed funds that contributed to the initial buildup of national savings and industrial output from negligible postwar levels.[14]Industrial Expansion Phase (1970s–1980s)
During the 1970s, the Korea Development Bank (KDB) intensified its role in channeling long-term capital to support South Korea's Heavy and Chemical Industry (HCI) drive, launched by President Park Chung-hee in January 1973 to build domestic capabilities in strategic sectors such as steel, shipbuilding, petrochemicals, machinery, and electronics.[15] As the primary institution for policy loans, KDB served as the main conduit for government-directed financing, sourcing funds through foreign borrowings and on-lending them at preferential rates to targeted industries, which accounted for the bulk of national investment during the Third and Fourth Five-Year Economic Development Plans (1972–1976 and 1977–1981).[16] This approach addressed capital shortages in heavy industries by prioritizing facility investments over short-term commercial lending, with KDB's outstanding loans to manufacturing sectors reaching predominance by the mid-decade.[17] Key initiatives included KDB's expansion into foreign exchange operations in 1973, enabling class A foreign currency loans to import-dependent projects, followed by the issuance of its first foreign currency Industrial Finance Bond (IFB) in 1974 valued at USD 19 million to tap Middle Eastern capital markets.[1] These mechanisms diversified funding beyond domestic savings, underwriting corporate bonds and guaranteeing securities to bolster export-oriented heavy industries like POSCO's steel expansion and Hyundai's shipbuilding ventures, where policy loans constituted a significant portion of project capital.[18] By 1978, KDB issued its inaugural Samurai Bond worth JPY 10 billion, further enhancing liquidity for industrial scaling amid the HCI push's emphasis on self-reliance in intermediate goods production.[1] In the 1980s, following the HCI drive's conclusion in 1979 and economic stabilization under the Fifth Five-Year Plan (1982–1986), KDB shifted focus to sustaining growth in downstream sectors like automobiles and electronics, providing long-term facility financing to firms such as Daewoo and Samsung amid maturing industrial clusters.[1] This period saw continued reliance on independent fundraising through expanded IFB issuances and foreign capital induction, supporting a transition from import-substitution to competitive exports while mitigating overcapacity risks from prior heavy investments.[16] KDB's targeted lending helped maintain industrial momentum, with policy finance comprising a substantial share of total credit to manufacturing until financial liberalization accelerated in the mid-1980s.[19]Crisis Response and Restructuring (1990s–2000s)
In the wake of the 1997 Asian Financial Crisis, which triggered the bankruptcies of major chaebols such as Hanbo Steel in January 1997 and Kia Motors in July 1997, the Korea Development Bank (KDB) assumed a leading role in government-led stabilization efforts. As a state-owned policy bank, KDB provided emergency liquidity to critical industries and participated in creditor-led workout programs designed to restructure viable firms while facilitating the exit of insolvent ones, aligning with the structural reform conditions of the International Monetary Fund's $58.4 billion bailout package agreed upon on December 21, 1997.[20][20] This involvement helped avert a broader collapse of South Korea's export-oriented heavy industries, which faced acute foreign exchange shortages and debt servicing failures amid a 6.9 percent GDP contraction in 1998. KDB's restructuring activities intensified post-crisis, focusing on debt rescheduling, equity infusions, and asset sales for distressed conglomerates. In the case of the Daewoo Group, whose 1999 collapse left debts exceeding 80 trillion won—the largest corporate failure in Korean history—KDB joined creditor committees to oversee the disposition of subsidiaries and non-core assets, preventing contagion to supply chains in sectors like automobiles and electronics.[21] By December 2000, the government directed KDB to underwrite the rollover of 80 percent of maturing corporate bonds in targeted workouts, bolstering market confidence and enabling the rehabilitation of select Daewoo units through mergers and foreign investments.[21] Throughout the 2000s, KDB formalized corporate restructuring as a core function alongside its traditional long-term financing mandate, managing non-performing loans through specialized vehicles and contributing to the reduction of chaebol debt-to-equity ratios from an average of 400 percent in 1997 to under 200 percent by 2003.[22] This shift reflected a broader transition to market-oriented policies, including enhanced transparency in loan evaluations and increased foreign participation in acquired assets, which supported South Korea's economic rebound with annual GDP growth averaging 4.5 percent from 2000 to 2007. KDB's efforts were complemented by amendments to its governing act in 1997, which streamlined operations for crisis response without altering its fully government-owned structure.[23] Despite criticisms from some analysts that state intervention prolonged inefficient firms, empirical outcomes showed stabilized banking assets and reduced systemic risk, as non-performing loans in the corporate sector fell from 18 percent of GDP in 1999 to 5 percent by 2005.[24]Globalization and Modern Adaptation (2010s–Present)
In the 2010s, the Korea Development Bank intensified its international operations to facilitate the overseas expansion of South Korean enterprises and bolster the competitiveness of the domestic financial sector amid global economic integration. The bank maintained and expanded its network of overseas branches, including facilities in New York and London, which provide corporate loans, trade finance, and derivatives services tailored to Korean firms operating abroad and local partners.[25][26] This globalization strategy aligned with government directives to position South Korea as a regional financial hub, enabling KDB to underwrite large-scale projects supporting industrial outflows, such as infrastructure and manufacturing investments in emerging markets.[27][28] Adapting to contemporary financial paradigms, KDB shifted emphasis toward sustainable and climate-aligned financing in the 2020s, developing a comprehensive framework for green bonds and project eligibility that adheres to international standards like the Paris Agreement. The bank positioned itself as a "national climate bank," channeling proceeds from sustainable instruments into low-carbon initiatives, including hydrogen infrastructure and renewable energy projects, while accrediting itself with entities such as the Green Climate Fund for global development finance.[29][30] This adaptation reflected broader pressures from global regulatory shifts and investor demands for environmental accountability, with KDB reporting allocations supporting decarbonization efforts in key industries.[31] Domestically, KDB redirected resources from traditional real estate lending toward productive investments in advanced strategic sectors, exemplified by initiatives to establish a fund exceeding 100 trillion won for innovation-driven industries like semiconductors and biotechnology as of July 2025. Under new leadership appointed in September 2025, the bank prioritized enhancing financial system productivity through targeted support for high-tech growth areas, aiming to foster inclusive economic resilience without compromising fiscal stability.[32][7][33] These measures addressed post-pandemic challenges, including low growth and geopolitical risks, by leveraging KDB's state-backed mandate to stabilize markets and promote long-term industrial upgrading.[34]Mandate and Governance
Legal Framework and Core Objectives
The Korea Development Bank (KDB) was established on April 1, 1954, as a government-owned financial institution pursuant to the Korea Development Bank Act (KDB Act), a statute enacted to support South Korea's post-war economic reconstruction and industrialization efforts.[35][10] The Act designates KDB as a juridical person, distinct from private commercial banks, with operations governed by its provisions, presidential decrees, and internal by-laws, ensuring alignment with national economic priorities rather than profit maximization.[36][37] The core purpose of the KDB Act, as stated in Article 1, is to "contribute to sound development of the financial industry and national economy" by creating KDB to supply and manage funds essential for industrial growth.[37][38] This mandate emphasizes long-term financing for major infrastructure, heavy industries, and strategic sectors, including direct loans, equity investments, and bond issuance backed by government guarantees to mitigate market risks inherent in developmental lending.[39] Capital is set by articles of incorporation up to 30 trillion South Korean won, with a minimum government contribution of 51%, underscoring its policy-oriented role over commercial viability.[40] KDB's objectives extend to stabilizing the economy during crises, as evidenced by its legal authority to participate in corporate restructuring and liquidity provision, subject to Ministry of Economy and Finance oversight on business plans and budgets.[39] Amendments, such as those in 2020 establishing a dedicated fund for industrial bonds, have refined these goals to include sustainable development financing without altering the foundational emphasis on national industrial advancement.[41] This framework positions KDB as an instrument of state industrial policy, prioritizing causal contributions to economic capacity-building over short-term returns.Ownership Structure and Leadership
The Korea Development Bank (KDB) is wholly owned by the government of the Republic of Korea, operating as a state-owned policy bank under the oversight of the Ministry of Economy and Finance.[2] This full public ownership structure aligns with KDB's mandate to provide long-term financing for national industrial development projects, without private shareholders influencing decisions.[1] Leadership at KDB is headed by a Chairman and CEO, who also serves as the chairman of the Board of Directors, as stipulated in the bank's articles of incorporation and the Korea Development Bank Act.[42] The current Chairman and CEO is Park Sang-jin, appointed on September 9, 2025, and officially taking office on September 15, 2025; he is the first leader promoted from within the bank's ranks, having previously served as its compliance officer.[7] [43] Park, aged 63 at the time of appointment and a Seoul National University alumnus, specializes in corporate restructuring and has emphasized bolstering support for strategic sectors like semiconductors and advanced industries.[44] [45] The Board of Directors consists primarily of executive directors overseeing key operational divisions, including regional development, innovation and growth banking, and corporate banking.[46] Notable members include Paik Jun-young (Regional Development Division), Shin Hey-sook (Innovation & Growth Banking Division), and Lee Bong (Corporate Banking Division), reflecting a structure focused on internal expertise rather than external appointees.[46] This governance model ensures alignment with government policy objectives while maintaining operational autonomy in financing decisions.[10]Organizational Structure
Domestic Network and Operations
The Korea Development Bank maintains its headquarters in Yeouido, Seoul, at 14 Eunhaeng-ro, Yeongdeungpo-gu.[47] As of 30 June 2024, it operates 60 domestic branches across South Korea to support its financing mandate.[48] Domestically, KDB focuses on long-term financing for industrial development, infrastructure expansion, and corporate restructuring through direct loans, equity investments, and policy loans.[30] [49] Its corporate banking services include tailored facility loans, trade finance, and bond issuance support for large enterprises in strategic sectors.[10] The branch network facilitates localized access to these services, enabling rapid response to regional economic needs and national policy objectives such as industrial promotion and financial stabilization.[39] KDB's operations emphasize development finance over retail banking, prioritizing high-impact projects aligned with South Korea's economic growth priorities.[1]International Branches and Subsidiaries
Korea Development Bank operates an international network comprising approximately 10 overseas branches, 6 subsidiaries, and 7 representative offices as of recent assessments, aimed at supporting Korean enterprises in global markets through financing, trade support, and investment services.[4] This structure enables KDB to raise funds in international capital markets, provide project finance for overseas ventures, and manage risks associated with cross-border activities.[50] Key branches include the New York Branch (KDB NY), which handles U.S.-focused corporate banking and serves as a hub for North American operations; the London Branch, established as a full branch in August 1997 after conversion from a local subsidiary, functioning as the European hub for corporate finance, trade finance, and derivatives; the Tokyo Branch, upgraded from a representative office in October 1991 following its opening in November 1969, focusing on partnerships with multinational firms in Asia; and the Frankfurt Branch, opened on September 1, 2025, to enhance funding access in European capital markets and assist Korean companies expanding there.[10][26][51][52] Among subsidiaries, KDB Asia Limited in Hong Kong, a wholly owned entity reformed in January 1986 from a representative office opened in November 1977, specializes in Asian regional financing and investment; KDB Brazil, established in 2005 as a 100% subsidiary, delivers corporate and investment banking tailored to South American markets; KDB Ireland Designated Activity Company supports European structured finance; and KDB Silicon Valley LLC focuses on technology sector investments in the U.S.[53][54][55] Additional European subsidiaries include operations in Hungary, contributing to the bank's diversified regional footprint.[4] These entities align with KDB's mandate to promote South Korea's industrial competitiveness abroad while adhering to risk-managed, policy-driven lending.[56]Operations and Services
Long-Term Financing and Project Support
The Korea Development Bank (KDB) serves as South Korea's principal institution for long-term financing, channeling funds into industrial development, infrastructure expansion, and strategic projects aligned with national economic priorities, as stipulated in Article 18 of the Korea Development Bank Act.[37] This includes direct lending, bill discounting, and administration of special government funds for maturities of at least one year, often with government guarantees on foreign currency loans to mitigate risks.[37] Such mechanisms enable KDB to support large-scale initiatives that private banks may avoid due to extended horizons and policy-driven objectives.[50] Historically, KDB's project support began in the 1950s with financing for foundational industries like electricity, coal mining, and cement production to aid post-Korean War reconstruction.[1] During the 1970s, it directed long-term loans toward energy sectors, heavy chemicals, and export-oriented manufacturing to drive rapid industrialization.[1] The 1980s saw intensified facility financing for automobiles and electronics, sustaining industrial momentum through policy-aligned credit.[1] By the 1990s, emphasis shifted to technology-intensive areas, including semiconductors, reflecting evolving national competitiveness goals.[1] In contemporary operations, KDB extends project financing to infrastructure and high-priority sectors, adhering to frameworks like the Equator Principles for environmental and social risk management in deals exceeding $10 million.[57] For instance, it reported on the Horang Energy Fuel Cell project under project-related acquisition finance in 2023.[57] In February 2024, KDB committed KRW 15 trillion to five strategic areas, including semiconductors, to bolster technological advancement amid global competition.[58] As Korea's designated national climate bank, it has developed a sustainable financing framework since 2025, prioritizing green bonds and loans for renewable energy and efficiency projects.[29] Internationally, KDB supports development projects through partnerships, such as its 2016 accreditation by the Green Climate Fund, enabling co-financing for climate initiatives.[30] Notable examples include the FP196 program for industrial energy efficiency in Indonesia and FP228 for a Cambodian climate financing facility, both leveraging KDB's long-term capital for sustainable infrastructure.[30] These efforts integrate project appraisal with national policy, ensuring alignment with South Korea's export promotion and overseas development strategies.[30]Corporate Restructuring and Investment Activities
The Korea Development Bank (KDB) plays a central role in corporate restructuring by providing loans, trade finance, and leadership in debt workouts for distressed firms, particularly chaebols and key industries, to stabilize the national economy during financial turbulence.[35] This includes facilitating equity infusions, asset sales, and operational turnarounds, as seen in its coordination of foreign capital inflows and creditor negotiations. For example, in December 2000, KDB rolled over substantial corporate debt to avert widespread defaults amid post-crisis recovery efforts.[21] In 2009, as the lead creditor, KDB orchestrated the restructuring of Kumho Asiana Group, implementing business portfolio rationalization and debt reduction measures to restore viability.[59] KDB allocates dedicated funds for restructuring initiatives, often in response to policy directives. In 2019, it committed 555 billion KRW specifically for corporate restructuring programs, focusing on viability assessments and workout financing.[34] These efforts extend to broader economic stabilization, such as supporting supplier networks and minimizing systemic risks from failed entities, though outcomes depend on market conditions and debtor compliance.[60] Moody's has noted KDB's involvement in such activities as a key factor in maintaining national financial stability, underscoring its policy-driven mandate over pure commercial lending.[48] Complementing restructuring, KDB's investment activities encompass direct equity stakes, alternative assets, and project financing to foster industrial growth and innovation. Primary areas include investment banking for bond issuances—such as leading Korea's first SOC (social overhead capital) bond and a USD 1 billion global bond—and equity investments in high-tech firms and small-to-medium enterprises (SMEs).[1] In 2016, it launched a 308 billion KRW Facility Investment Fund under the Corporate Investment Stimulus Program to bolster capital expenditures in strategic sectors.[39] By 2018, KDB established Growth Support Funds totaling 170 billion KRW to target emerging technologies and infrastructure.[34] Through international arms like KDB Silicon Valley, the bank pursues direct investments in global tech opportunities and indirect investments via funds, leveraging networks for cross-border deals.[61] These activities align with sustainability goals, including advisory services for green projects and advanced industries, as prioritized by leadership in 2025 to enhance financial productivity.[7] Overall, KDB's investments prioritize long-term national objectives, such as infrastructure and new-growth engines, often involving public-private partnerships rather than short-term speculation.[62]Economic Role and Impact
Contributions to South Korea's Industrial Growth
The Korea Development Bank (KDB), established on April 1, 1954, under the Korea Development Bank Act, was created to supply and manage long-term industrial capital, filling gaps left by commercial banks reliant on short-term deposits and thereby enabling sustained investment in manufacturing and infrastructure amid post-Korean War reconstruction.[22][63] By issuing bonds and securing foreign loans, KDB directed funds toward priority sectors, dissolving credit blockades and expanding production capacities in growth-oriented industries during the Five-Year Economic Development Plans starting in 1962.[1] This mechanism supported the shift from labor-intensive light industries like textiles to capital-intensive heavy sectors, contributing to South Korea's export-oriented industrialization. In the 1973 Heavy and Chemical Industry (HCI) drive under President Park Chung-hee, KDB emerged as the principal financier, channeling subsidized long-term loans and equity to targeted areas including steel, petrochemicals, shipbuilding, nonferrous metals, and machinery, which accounted for over 80% of policy-directed credit by the mid-1970s.[15][63] The bank mobilized approximately 40% of total domestic savings into these industries through normalized long-term credit systems, funding mega-projects such as integrated steel mills and petrochemical complexes that boosted sectoral output growth rates exceeding 20% annually in the late 1970s.[64] KDB's role extended to nurturing flagship firms; it provided critical backing for POSCO's expansion from its 1973 Pohang facility, helping elevate South Korea's crude steel production from 0.3 million tons in 1962 to over 8 million tons by 1978, establishing the country as a global exporter.[65] These interventions aligned with causal drivers of industrial expansion, as KDB's low-cost, patient capital reduced financing risks for high-fixed-cost projects, fostering technological upgrades and backward linkages in supplier networks that sustained comparative advantages into the 1980s.[63] By 1980, heavy industries comprised nearly 40% of manufacturing value added, underpinning South Korea's GDP per capita rise from $87 in 1960 to $1,647 by 1980 through enhanced productivity and export competitiveness in automobiles, electronics components, and vessels.[15] KDB's financing also facilitated infrastructure like power plants and ports, amplifying industrial agglomeration effects in regions such as Ulsan and Yeosu.[1]Sector-Specific Influences and Policy Alignment
The Korea Development Bank (KDB) aligns its lending and investment activities with South Korea's national industrial policies, prioritizing sectors deemed critical for economic competitiveness and security, such as heavy industry, shipbuilding, semiconductors, and energy transition. Established in 1954 to supply long-term capital for industrial development, KDB has historically channeled funds into government-designated strategic areas, reflecting causal links between state-directed financing and sectoral expansion rather than market-driven allocation alone.[1][29] In the heavy and chemical industry (HCI) drive of 1973–1979, KDB supported policy objectives by providing financing for upstream sectors like steel, petrochemicals, and machinery, which were targeted for rapid capacity buildup to enhance export capabilities and reduce import dependence. This alignment facilitated the allocation of subsidized loans to chaebol-led projects, contributing to output growth in these areas despite initial inefficiencies from overcapacity and debt accumulation. KDB's role extended beyond mere funding to risk-sharing with private entities, underscoring its function as an instrument of industrial policy rather than a purely commercial lender.[66][67] For shipbuilding, KDB has issued refund guarantees (RGs) to mitigate order risks for domestic yards, with $260 million allocated in 2024 as part of a $10.75 billion government-backed package to counter global competition from China. This intervention, including plans to expand RGs for medium-sized builders, directly influences sector liquidity and order inflows, enabling South Korean firms to maintain a 30–40% global market share amid cyclical downturns. However, KDB has also pursued deleveraging by reducing shipbuilding exposure from prior peaks, balancing policy support with financial prudence.[68][69] In semiconductors, KDB administers low-interest policy loans under the 2025 national support plan, overseeing KRW 4.25 trillion for low-power chip production within a KRW 14 trillion sectoral injection to bolster ecosystem resilience against supply chain disruptions. This financing targets facility investments and R&D, aligning with government strategies to secure advanced node capabilities, as evidenced by commitments for up to KRW 17 trillion in dedicated loans by 2027.[70][71] KDB's energy sector engagements emphasize green transition financing, with its 2025 Sustainable Financing Framework categorizing eligible projects in renewables (e.g., solar, wind under 25 MW), energy efficiency, and decarbonization, in line with Korea's 2050 carbon neutrality pledge and Paris Agreement commitments. Accredited by the Green Climate Fund since 2016, KDB has mobilized funds for low-emission infrastructure, including KRW 1.8 trillion for renewable facilities in 2024, while integrating Equator Principles for environmental risk assessment. This policy alignment prioritizes empirical transitions in high-emission industries over unsubstantiated net-zero timelines, focusing on verifiable emission reductions through targeted loans rather than broad exclusions.[29][31][30]Financial Performance
Key Metrics and Historical Trends
The Korea Development Bank (KDB) maintains a balance sheet dominated by long-term policy lending, with total assets growing from 251.8 trillion KRW in 2020 to 333.2 trillion KRW in the first half of 2024, reflecting expanded financing for industrial and infrastructure projects amid South Korea's economic priorities.[39] Outstanding loans, comprising the bulk of assets, rose from 156.7 trillion KRW in 2020 to 204.4 trillion KRW by mid-2024, driven by mandates for corporate restructuring and strategic sector support.[39] This expansion aligns with KDB's role as a government-backed institution, where asset growth often correlates with state-directed capital injections rather than purely market-driven profitability.[39] Net income has fluctuated, recording 488 billion KRW in 2020 and 465 billion KRW in 2022 before surging to 2,509 billion KRW in 2023, with 1,674 billion KRW achieved in the first half of 2024; these variations stem from valuation adjustments on policy loans and interest rate environments rather than operational efficiencies alone.[39] The BIS capital adequacy ratio has stayed above regulatory minima, declining to 12.3% in 2022 before recovering to 13.7% in Q2 2024, bolstered by equity contributions from the government to sustain lending capacity.[39] Historical trends indicate accelerated balance sheet expansion post-2010, with total assets more than doubling from median levels around 122 trillion KRW in the late 1990s to early 2010s to over 300 trillion KRW by 2023, underscoring KDB's evolution from post-war reconstruction financing to supporting high-tech industries and financial stability.[72] [39]| Year/Period | Total Assets (KRW tn) | Outstanding Loans (KRW tn) | Net Income (KRW bn) | BIS Ratio (%) |
|---|---|---|---|---|
| 2020 | 251.8 | 156.7 | 488 | 14.9 |
| 2021 | 276.4 | 171.4 | 2,462 | 14.3 |
| 2022 | 312.8 | 202.0 | 465 | 12.3 |
| 2023 | 316.4 | 203.1 | 2,509 | 13.1 |
| 2024 (1H) | 333.2 | 204.4 | 1,674 (1H) | 13.7 (Q2) |