KDB Says It Was Not Involved in IMS Mobility Investment Linked to Kim Keonhee's "Butler Gate" Allegations

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Regarding media reports that Korea Development Bank invested 10 billion KRW in the rental car company IMS Mobility, which is reportedly linked to First Lady Kim Keonhee's so-called "Butler Gate" allegations, the bank clarified that the actual investor was not KDB itself, but the Neoplux No. 3 Fund.

On August 13, KDB issued a statement explaining, "The entity that invested in IMS Mobility was not Korea Development Bank, but the 'Neoplux No. 3 Fund.' The investment decision for the fund was made by the general partner (Company S) that manages the fund."

The bank further added, "As a limited partner, KDB is a contributor to the fund, and under the Capital Markets Act, it is not permitted to be involved in the selection of investment target companies or investment methods, which are the responsibilities of the fund's general partner."

Meanwhile, on the same day, KBS reported, based on materials provided by Democratic Party lawmaker Park Ji-hye's office, that KDB made an indirect investment of 10 billion KRW in IMS Mobility through the Neoplux No. 3 Fund in March 2020.

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