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SEOUL, KOREA - 02 Oct 2008: The Industrial Bank of Korea (IBK) and IBM Korea (NYSE: IBM) today announced the completion of IBK's mainframe migration project to IBM System z10, which was done to help the bank create an advanced IT environment as the foundation for its new enterprise data center.
IBM provided the Industrial Bank of Korea with six z10 Enterprise Class (EC) mainframes, IBM's latest mainframe offering announced in February 2008. The Industrial Bank of Korea migrated from an infrastructure of IBM z9 mainframes, without any service breaks.
With the System z10, IBK can now run 50 percent faster, have 70 percent more capacity and three times the memory, compared to the System z9. IBK required operational stability and mandatory capacity of its mainframe to support sustainable growth and to respond to the fast changing financial services environment.
JungHoon Sung, Manager of IT System Planning of IBK, said, "The success of IBK's System z10 migration was based on our great partnership with IBM in Korea which helped secure mandatory capacity for mainframe, reduce TCO and improve system stability, efficiency, and liability. We expect innovation in client service through the great capability of IBM System z10."
Sukyoung Kang, Director of Financial Services Sector of IBM Korea, said, "IBK's System z10 migration project is the first case of introducing the System z10 in the financial services industry of Korea. This is an indication that markets continue to recognize the power of System z10 to help them transform their entire data center, providing the automation ability for IT resource management and tracking in the rapidly changing business environment."
The agreement was signed in June 2008.
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