Specialized Departments
IBK Economic Research Institute
The IBK Economic Research Institute conducts research on SME business conditions and financial demand in accordance with the Industrial Bank of Korea Act. This work supports the bank's policy finance operations and the advancement of its SME support framework. The Institute analyzes shifts in the banking industry's operating environment based on domestic and international economic outlooks and SME business forecasts. It also contributes to the formulation of the bank's management strategies and divisional business plans. Economic outlook lectures and knowledge-sharing sessions for employees enhance strategic planning capabilities and strengthen field-level responsiveness. Serving as IBK's think tank, the Institute also analyzes material issues—such as policy and regulatory changes and industrial restructuring—to help shape the bank's mid- to long-term strategic direction.
Amid rising domestic and external uncertainties and evolving policy and regulatory environments, the Institute conducted timely research assessing their impact on SMEs and financial markets. Analyses of major developments—including exchange rate fluctuations, changes in tariffs and the global trade environments, global financial risks, and reforms to the depositor protection system—provided actionable insights to support management decision-making. Research on new technologies and emerging industries—such as digital transformation, AI applications, and stablecoins—provided strategic insights to guide the bank's mid- to long-term innovation direction.
The Institute publishes a range of periodicals—including IBK Economic Research Institute Monthly Trends, Korean Peninsula Sketch: North, IBK Economic Compass, Economic News Behind, Economic Brief, Industry Brief, International Cooperation Brief, and Book of the Month. These publications provide timely insights on major domestic and international issues, supporting practical application across branches and headquarters departments.
Chief Information Security Officer
IBK is elevating its information security framework in response to increasingly sophisticated cyber threats and the acceleration of digital transformation. Preemptive security measures and systematic management reinforce trust in customer data protection and financial security.
Zero Security Incidents via Enhanced Cyber Threat Response
IBK has developed an in-house response system to address new and evolving cyberattacks, enabling the proactive prevention of emerging threats. White-hat hacker-led penetration testing identifies and eliminates potential vulnerabilities, reinforcing the bank's response capabilities.
In collaboration with the Korea Internet & Security Agency (KISA), IBK established an information-sharing framework to address increasingly sophisticated cyber threats, building its incident response capabilities. The bank's zero-incident record further enhanced trust in its financial security.
Additionally, IBK expanded security drills to all relevant departments, testing response protocols against realistic breach scenarios. Backup and recovery drills for database servers strengthened the bank's system restoration capabilities. These efforts enhanced cross-departmental collaboration and employees' security awareness.
Rigorous Information Security Management Framework
IBK received the highest rating (Grade 1) in the security vulnerability analysis and assessment conducted by the Financial Security Institute, demonstrating the excellence of its information security management framework. The bank also established a dedicated in-person consultative body with supervisory authorities to systematize security reviews in the process of introducing new financial services. This initiative significantly reduced the time-to-market.
IBK has been proactively responding to advancements in quantum computing by taking a phased approach to quantum-resistant cryptography—conducting technical feasibility assessment, validating business applications, and establishing a transition roadmap.
Personal Data Management Standards
IBK newly obtained ISO 27701 certification, a globally recognized standard for personal data management systems, and operates a personal data protection framework aligned with international standards, further elevating its trust-based financial competitiveness. ISO 27701, established by the International Organization for Standardization (ISO), is one of the leading international certifications in the field of personal data protection. This certification formally recognizes IBK's comprehensive management capabilities across all aspects of personal data processing.
IBK has also earned an S grade for five consecutive years in the annual personal credit information assessment conducted by the Financial Services Commission, consistently demonstrating the stability and excellence of its personal data management framework.
Internal Audit Department
IBK is strengthening audit activities across branches and HQ departments to prevent financial incidents and support sound management.
Branch and Headquarters Audit Enhancement
The bank introduced loan-focused audits to prevent financial misconduct arising from improper lending practices for personal gain and has steadily expanded the scope of branch audits. The number of branch audits increased from 25 in 2023 to 83 in 2024 and 100 in 2025, significantly reinforcing on-site inspection activities.
Management audits covering key business areas—including corporate client relations, the card business, and investment divisions—assessed performance and risk exposure across business units. Preemptive audits in IT and information security, as well as contract and asset management, were also carried out to proactively mitigate potential risks. IBK also conducted unannounced cross-audits twice annually—in the first and second halves of the year—whereby branch managers from neighboring locations performed reciprocal inspections across 595 branches. This further enhanced the effectiveness of surprise audit activities.
Audit System and Process Improvement
To enhance audit expertise and fairness, IBK established an Audit Advisory Panel in July 2025 composed of external specialists, including attorneys and certified public accountants. The Panel provides recommendations for advancing internal audit practices and facilitates the sharing of specialized knowledge and best practices. The bank also improved the accessibility and anonymity of its whistleblowing system (Sinmungo), enabling non-face-to-face and anonymous reporting of employee misconduct—including job-related criminal acts, improper instructions, and ethical violations. IBK also introduced an external reporting channel, "K-Whistle."
Audit Expertise Enhancement via Dedicated Organizations
IBK established a Special Audit Team to conduct special audits and manage post-incident follow-up related to financial misconduct, enhancing the bank's incident response capabilities. An AI Audit Task Force was also formed to accelerate the digital transformation of audit operations. The Task Force introduced an audit case Q&A service and advanced audit functions by leveraging AI-based tools, including automated media monitoring.
Enhanced Incident Prevention Training
Auditors visited 102 branches nationwide to deliver in-person incident prevention training, sharing recent financial incident cases and key audit findings by business area. The transition from non-face-to-face video-based training to in-person sessions improved training effectiveness and enhanced employees' ethics awareness.
Tailored training programs were provided to 1,395 participants—including pre-CEOs, newly promoted employees at each grade, managers and supervisors, and employees transferred to HQs. Educational materials covering financial incident prevention by type—including embezzlement and unauthorized personal financial transactions—along with major audit findings, were continuously shared with all employees.