The Industrial Bank of Korea (IBK), South Korea’s fourth-largest bank by assets, announced on Nov. 23 that it will display and provide consultation about “crowdfunding,” which is rapidly emerging as a new trend in the era of fintech, at Creative Korea 2015.
Hosted by the Ministry of Science, ICT and Future Planning (MSIP) and Small and Medium Business Administration (SMBA), the Creative Korea 2015 will take place at the COEX Convention Center in Samsung-dong, Seoul, for four days from Nov. 26.
During the event, it will organize a “mock crowdfunding contest” online and offline at the same time. The contest will be participated in by seven companies, which are predicted to have great growth potential by the institution, and the result will be broadcasted on its “open trade” site.
Keeping pace with the “equity investment type crowdfunding”, which will become effective from January next year, the IBK will open a “business investment information square” site that provides information about promising companies to investors.