South Korean state-run banks deny pressure over film investment

South Korea’s state-run Industrial Bank of Korea (IBK) and Korea Development Bank (KDB) have denied allegations that external pressure influenced their investments in the controversial film ‘Assassin(s).’

IBK stated that its 2 billion won investment followed standard internal review procedures, evaluating the production company’s capabilities, the director and cast, and commercial viability. The bank emphasized that the decision was not made through abnormal channels or outside requests.

KDB clarified that it did not invest directly in the film but rather contributed capital to a fund. It noted that the fund manager, S company, made the independent decision to invest in the project, and KDB had no involvement in selecting the film or its subsequent management.

The controversy stems from the film’s depiction of the 1974 assassination attempt on then-President Park Chung-hee, which resulted in the death of First Lady Yuk Young-soo. The plot explores potential intelligence agency involvement in the attack, sparking political debate.