RNS No 7616u
INDUSTRIAL BANK OF KOREA 
1st July 1997


RE: INDUSTRIAL BANK OF KOREA GLOBAL MEDIUM TERM NOTES

PRINCIPAL AMOUNT  USD 50,000,000 CUSIP 45603NAA3
ORIGINAL ISSUE DATE   010797     CUSIN 45603PAA3
MATURITY DATE         010700
COMMON CODE           7802668

WITH REFERENCE TO THE ABOVE NOTE ISSUE THE INTEREST RATE FOR
THE ABOVE ISSUE SHALL BE AS FOLLOWS

INTEREST RATE CALCULATION

INTEREST PERIOD    010797 TO 020198
6 MONTH USD LIBOR RATE   5.90625
SPREAD                   (PLUS)0.30
TOTAL RATE FOR PERIOD    6.20625
TOTAL NO OF DAYS         185
INTEREST AMOUNT PAYABLE  USD 3,189.32 PER USD 100,000

END