Corporate Governance

Board of Directors

  • IBK’s Board of Directors (BoD) consists of a total of five members. The five are the Chairman & CEO, Deputy CEO & Senior Executive Vice President, and three outside directors.
  • The Chairman & CEO oversees IBK’s business operations and is appointed by the President of the Republic of Korea on the recommendation of the chairman of the Financial Services Commission (FSC). The Deputy CEO is appointed by the FSC on the recommendation of the CEO and serves a three-year term. The external directors, who make up the majority of the BoD, are also appointed by the FSC on the recommendation of the CEO based on their expertise and experience in management, economics, and SMEs.

Major Activities of the Board of Directors

  • The BoD has the authority to make decisions on important issues pertaining to business activities at IBK. It held fourteen meetings in 2017 and passed 53 resolutions and reviewed 22 reports. It passed resolutions regarding “Contingent Convertible Bond Issuance (Proposal)” at the second meeting on February 24 and the “Appointment of Risk Officer (Proposal)” at the seventh meeting on July 10, and was briefed on the “2018 Business Plan (Proposal)” at the twelfth meeting on November 30.
  • In 2018, IBK will strive to further enhance its governance structure through BoD activities. The BoD will support management efforts to spearhead open and transparent business practices, foster constructive relationships with all stakeholders, and establish an advanced governance structure.

Committees of the Board of Directors

  • There are three committees under the BoD, namely the Governance Committee, Management Compensation Committee, and Risk Management Committee. The Management Compensation Committee is formed entirely of outside directors while the Risk Management Committee is chaired by an outside director to ensure autonomy.

Governance Committee

  • The Governance Committee is headed by the Chairman & CEO and consists of no more than five internal and outside directors. It is responsible for reviewing measures to improve the efficiency and functionality of the BoD and its committees. The Governance Committee is also in charge of communicating with and collecting opinions from stakeholders to raise shareholder value and protect stakeholders’ interests. It suggests outside director candidates to the Chairman & CEO, who subsequently recommends candidates for nomination by the Financial Services Commission. The Committee also appoints executive officers based on the Chairman & CEO’s recommendations and deliberates on other issues deemed necessary by the BoD.

Management Compensation Committee

  • The Management Compensation Committee, comprising three outside directors, is responsible for overseeing remuneration for executive officers and investment personnel, executives’ performance evaluations and benefits as well as other issues deemed necessary by the BoD..

Risk Management Committee

  • The Risk Management Committee consists of three internal and outside directors and is chaired by an outside director appointed by the BoD. Its role is to oversee all risks that may arise in the course of the bank’s operations. It is responsible for the establishment and approval of risk management policies to maintain capital soundness at IBK.



Ownership Structure (As of December 31, 2017)

    (No. of Shares, %)

  • Overseas Remittance
    Shareholder Common Stock Preferred Stock Total Ownership
    Government of ROK 290,109,219 44,847,038 334,956,257 50.9%
    Korea Development Bank(KDB) 10,490,000 46,915,282 57,405,282 8.7%
    Export-Inport Bank of Korea(Korea Eximbank ) 8,501,153 6,210,000 14,711,153 2.3%
    Others 136,022,560 - 136,022,560 20.7%
    (Foreign investors) (114,855,883) - (114,855,883) (17.4%)
    Total 559,978,815 - 657,951,135 100.00%
    • * Preferred stock held by KDB and Korea Eximbank are convertible preferred stock.