91KJ Lloyds Bk.nt37

RNS No 1180e
INDUSTRIAL BANK OF KOREA
28th May 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  (PLUS)(PLUS) AMENDMENT (PLUS)(PLUS)
AMENDMENT (PLUS)(PLUS)


INTEREST PERIOD:         31-12-97 - 30-06-98
6 MONTHS USD-LIBOR RATE: 5.90625
PLUS SPREAD:             PLUS 1.00
INTEREST RATE FOR PERIOD:6.90625
NUMBER OF DAYS:          181
INTEREST DUE AT NEXT
INTEREST PAYMENT DATE:   USD 3,472.31 PER USD 100,000

REGARDS
WILLIAM DOWLING/STUART KINGSTON
SECS DEPT
FNBC LONDON

END


RC NFFSPASDPEFN

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