91KJ Lloyds Bk.nt37

RNS No 2377h
INDUSTRIAL BANK OF KOREA
2nd January 1998


RE:       INDUSTRIAL BANK OF KOREA
          GLOBAL MEDIUM TERM NOTES

PRINCIPAL AMOUNT:   USD 100,000,000
ORIGINAL ISSUE DATE: 01-07-97
MATURITY DATE:       01-07-2000
COMMON CODE:         7802668

CUSIP/CSIN:          45603NAA3(144A)/45603PAA3(REGS)

WITH REFERENCE TO THE ABOVE NOTE ISSUE, THE INTERST RATE HAS
BEEN SET FOR  MONTHS AS FOLLOWS:

INTEREST RATE CALCULATION     AMENDMENT   AMENDMENT

FURTHER TO A THIRD RECENT DOWNGRADE OF THE ABOVE MENTIONED
ISSUE BY MOODY'S, THE RATE HAS BEEN ADJUSTED AS STATED IN THE
PRICING SUPPLEMENT AS FOLLOWS:

INTEREST PERIOD:          01-07-97 - 31-12-97
6 MONTHS USD-LIBOR RATE:  5.90625
PLUS SPREAD:              PLUS 0.90
INTEREST RATE FOR PERIOD: 6.80625
NUMBER OF DAYS:           183
INTEREST DUE AT NEXT
INTEREST PAYMENT DATE:   USD 3,459.84 PER USD 100,000

REGARDS
WILLIAM DOWLING/SAHRA GUTRIDGE
SECS DEPT
FNBC LONDON


END

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