RNS No 7239r
INDUSTRIAL BANK OF KOREA


FROM:     1 JULY 1997

1) $50,000,000 FLOATING RATE NOTES DUE JULY 2000

FULLY PAID
(REPRESENTED BY A NOTE TO BEARER OF $50,000,000 EACH)

ISSUE PRICE         -         100%

ISSUER              -         FIRST NATIONAL BANK OF KOREA

A copy of the above is available for inspection from the Company
Announcements office of the Stock Exchange, London.

END