IBK Industrial Bank of Korea sells all Korea Investment Holdings shares

IBK Industrial Bank of Korea has completed the sale of its entire stake in Korea Investment Holdings, ending a strategic capital relationship that spanned approximately 20 years. Between January 27 and January 30, the bank sold 62,300 shares on the open market, valued at approximately 9.3 billion won based on closing prices.

The partnership, which began in 2005 to expand comprehensive financial services, became less critical after IBK established its own securities firm, IBK Investment & Securities. The bank had previously disposed of 1.18 million shares last year, but further sales were delayed due to government restrictions on asset disposals by public institutions.

Following the lifting of these restrictions, which no longer require prior approval from the Prime Minister for asset sales, other financial public institutions are expected to accelerate their own divestment processes. This includes potential sales of non-core assets by the Korea Asset Management Corporation (KAMCO), the Korea Development Bank, and the Korea Deposit Insurance Corporation.