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Three entrepreneurs inducted to IBK Hall of Fame

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  • Published Jul 28, 2015 5:04 pm KST
  • Updated Jul 28, 2015 5:04 pm KST

Industrial Bank of Korea (IBK) CEO Kwon Seon-joo, left, applauds after inducting Dong Yang Piston CEO Hong Sun-gyum, second from left, Hurom Chairman Kim Young-ki, third from left, and EO Technics CEO Sung Kyu-dong into the lender’s Hall of Fame, Tuesday. The state-controlled bank acknowledged their contributions to the nation’s exports and corporate social responsibility activities. / Courtesy of IBK

By Kim Jae-won

Three entrepreneurs have been inducted into the Industrial Bank of Korea (IBK) Hall of Fame for contributions to the country’s exports and their corporate social responsibility activities, the state-controlled bank said.

They are Dong Yang Piston CEO Hong Sun-gyum, juice maker company Hurom Chairman Kim Young-ki and laser facility manufacturer EO Technics CEO Sung Kyu-dong.

“Their plaques will be displayed in the bank’s lobby,” IBK said Tuesday. “Moreover, they will be exempted from banking fees during their lives.”

IBK said Hong had developed a technology to make auto engine pistons that were previously imported. The company is the nation’s largest player in the field by market share and No.4 globally.

Hurom is a juice maker that exports to 76 countries. It owns more than 250 patents at home and abroad, and was awarded a gold medal at an international invention competition.

Sung is an entrepreneur who transformed a small company with three employees into the world’s largest laser facility company. EO was chosen as a “Hidden Champion” by the nation’s bourse operator for five consecutive years from 2009

Researchers make up about 40 percent of its workforce and the company invests more than 10 percent of its revenue into research and development. EO has more than 240 patents at home and abroad.

IBK has inducted businesspeople to its Hall of Fame since 2004. So far, 32 entrepreneurs, including Hong, Kim and Sung, have been listed. The lenders’ committee elects people based on their technology, exports, entrepreneurship and contributions to society.

IBK is a leading Korean lender whose business focuses on small and medium enterprises. The lender’s CEO, Kwon Seon-joo, is seeking new revenue sources through so-called fintech business that applies information technology to the finance industry.