IBK Capital’s Myanmar unit launched

[THE INVESTOR] IBK Capital, the private equity and venture capital arm of the Industrial Bank of Korea, has launched operations in Myanmar, the firm said on Aug. 25.

The company will offer a range of agriculture loans, consumer durable loans and student loans to Burmese customers.

Three branches -- two in Yangon and one in Mandalay -- will be run by IBK Capital.

IBK Capital CEO Yoo Seok-ha said the company will seek a new growth engine by expanding its presence in the Southeast Asian region after settling down in Myanmar’s financial market as early as possible.

By Park Han-na (hnpark@heraldcorp.com)