[Sponsored Report] IBK helps out with medical expenses

IBK Chairman and CEO Cho Jun-hee provides free lunches to needy people. The company also sponsors medical care for the indigent.

Industrial Bank of Korea believes in the motto “becoming happier as you share” under the slogan “Fine Bank.”

Despite the economic downturn and rising prices, the bank spent 80.4 billion won ($71.6 million) last year supporting marginalized groups and elderly people living alone. In total, 7.2 percent of its net profit was dedicated to social contribution activities, the most in the banking industry for the last two years.

Khoovon Enkhtubshin from Mongolia was a diligent worker at a small bag manufacturing company. He had a Korean dream for his wife, son and daughter and arrived in Korea two years ago, leaving his loved ones behind.

Early last year, he suddenly collapsed and severely injured his head. He was diagnosed with traumatic subdural hemorrhage, brain vein damage that requires immediate removal of the subdural space, and his entire left brain had become detached.

The situation soon worsened. Enkhtubshin lapsed into a coma, and the hospital refused to reattach his left brain until fees were collected. After a few days, his wife and children arrived in Korea, and it took an additional month for the worker to receive the surgery. IBK heard the story and decided to cover all costs, leading to a successful result that restored Enkhtubshin’s health and head shape.

“We have worked hard to help strengthen small and medium companies, and to make regular people happier. Since it’s a difficult time for everyone, we will put more effort in social contribution activities,” said Cho Jun-hee, chairman and CEO of the bank. “All 12,000 employees will continue to share with community members. We want to become a ‘Fine Bank’ that everyone loves.”