IBK Industrial Bank of Korea Reselected as Suwon City Treasury Operator

Managing 3.9 Trillion Won Annually for Four Years

Jang Minyoung: "Supporting Local Economic Revitalization with Policy Finance Capabilities"

IBK Industrial Bank of Korea will manage the treasury operations of Suwon Special City, worth approximately 3.9 trillion won annually, for four years.

On the 3rd, IBK Industrial Bank of Korea announced on the 4th that it had signed the “Suwon City Treasury Operations Agreement” with Suwon Special City at Suwon Special City Hall and had been reselected as the next city treasury operator. As a result, IBK Industrial Bank of Korea will operate and manage Suwon Special City’s general and special accounts and funds as a single treasury from 2027 to 2030. The bank will also be responsible for handling various revenue collections and expenditure payments.

Jang Minyoung, President of IBK Industrial Bank of Korea, stated, “Suwon Special City has been a partner with IBK Industrial Bank of Korea for over 60 years,” and added, “We will support the city’s major transformation and the revitalization of the local economy based on our extensive treasury management experience and policy finance capabilities as a national policy bank.”

Lee Jaejun, Mayor of Suwon Special City, commented, “IBK Industrial Bank of Korea has contributed to enhancing the reliability of the city’s fiscal management by steadily operating the city treasury for a long time,” and continued, “We look forward to continued substantive cooperation linked to Suwon City’s key policies, such as improving citizen convenience and supporting small and medium-sized businesses and small business owners.”

This content was produced with the assistance of AI translation services.