Korea Development Bank, Industrial Bank of Korea deny 'Assassins' interference claims

  • IBK and KDB denied outside requests or interference in investments linked to "Assassins."
  • IBK invested 2 billion won directly; a KDB-backed fund invested 400 million won.
  • Joo Jin-woo disclosed the banks' investment records on the 30th of last month.

Korea Development Bank and Industrial Bank of Korea said on the 3rd that no outside requests or interference influenced investments in the film "Assassins" or its production company. IBK said its dedicated department reviewed and approved a direct 2 billion-won ($1.4 million) investment under internal standards, assessing the production company's capabilities, the director and cast, and the project's commercial viability. KDB said it did not invest directly in the film but contributed capital to a fund whose manager, Company S, independently made the 400 million-won investment. KDB said individual investment decisions and follow-up management are the exclusive responsibility of the asset manager. The statements followed disclosure on the 30th of last month by Joo Jin-woo, a lawmaker of the People Power Party, of investment records involving state-run banks, their backed funds, the film and Hive Media Corp. Funds in which IBK and KDB participated invested 14.25 billion won and 14 billion won, respectively, in the production company.

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