International Finance Corporation Driving New Investment for Korean Companies

The International Finance Corporation(IFC), a member of the World Bank Group, is a driving force for new investment into Korean corporations whose annual sales exceed 500 billion won, excluding massive chaebol groups.
The Bank of Korea's Governor Chon Chol Hwan, while attending the annual general meeting of the Asian Development Bank in Manila, announced at a press conference on May 1 that the vice president of the IFC, Jemal-ud-din Kassum, commented that the IFC is investigating numerous investment possibilities in Korea.
The governor said that according to Kassum, Korea could strengthen its potential economic growth by rapidly completing restructuring. Chon added that people in the international finance society who attended the general meeting spoke of Korea's overcoming the crisis with high praise but showed a negative recognition on chaebol groups, saying the necessity of Korean conglomerates' reform is pivotal.
Jooan Kang : jooan@joongang.co.kr