IBK deposits good will into nation

The bank (IBK) has left imprints in  Vietnam through building houses in southern Long An province, raising funds to build a Korean school in Ho Chi Minh City and donated VND1.5 billion ($72,000) for building three classrooms at a kindergarten in Viet Tri city, in northern mountainous Phu Tho province.

A group of 40 volunteers, who are IBK employees, recently made a trip to Kim Boi district in Hoa Binh province, 76 kilometres from Hanoi, to learn the hardships of local people.

Needy households account for 30 per cent of the district’s population versus  the country’s 13 per cent average. Local residents also day-to-day face a bunch of  issues like lack of safe water or environmental contamination.

The trip left deep impressions on the Korean volunteers. “Coming to a Kim Boi village, local people’s hardship was beyond our expectation. This provides an opportunity for IBK volunteers to join hands to alleviate their hardship,” said Nam So Yong, one of the volunteers.  

“The water is sufficient in rainy season, but is critical short in the dry season given the area’s hilly terrain and tropical climate. Hence, local people need to source water by their own to feed daily needs. They either have to travel a long road carrying water with a shoulder pole or buy it from specialised vehicles bringing water for sale,” said Du Sang Commune People’s Committee chairman Bach Cong Quynh.

Parallel to the commitments to enhancing local people’s access to safe water, during the trip the Korean volunteers brought a special gift to local pupils, replacing old table and chair sets with new ones.

Local kids had a nice day with the Korean volunteers. They gave the volunteers special local bracelets carrying Hoa Binh culture as the gift.

Recipients of IBK support are also the students and teachers at Minh Tam private vocational training centre in Hanoi’s Thach That district as the project on building and expanding the centre with VND3.4 billion ($163,500) funding from IBK finalised in late 2011.

The centre entails the opportunities for unfortunate and disabled people to integrate into society through offering diverse training courses. The courses train skills in carpentry, tailoring, craft, cultivation and husbandry with support from helpful teachers. Before getting IBK support, classes were often overloaded with trainees on the back of ever-growing demands from needy people in their search for stable subsistence.

IBK funding helped school leaders realise the dream of building a charity school for orphans, the disabled and other unfortunate people.

“When entering Vietnam, we are committed to going along with local community through practical CSR activities. Through the Korean Friendship Association, IBK got the proposal to assist Minh Tam vocational training school expansion project. We are happy having a chance to bring practical support to local people,” said IBK chief representative Oh Chang Suk.

Through CSR activities, IBK expects to help improve the quality of life of needy local people.
“IBK employees are happy to have a part in smoothing the hardships facing Vietnamese people and are proud of what IBK has done in Vietnam in the efforts to accompany local community’s development,” said Suk.

IBK was founded by Korean government in 1961 to render finance and banking services to small- and medium-sized enterprises (SMEs) in the Korea. Its role in enforcing government policy to support SMEs could not be replaced by other business entities in the private sector.

IBK established its branch office in Ho Chi Minh City in 2008 and opened a representative office in Hanoi in 2009. IBK provides financial support and investment information provision services to Korean businesses operating in Vietnam like Posco, Samsung, Lotte and Kumho Asiana. IBK also takes part in financing and lending big projects of Vietnamese firms.