Industrial Bank of Korea Moves to IBM System z10

Mon. October 06, 2008; Posted: 01:34 AM

IBM | Quote | Chart | News | PowerRating -- The Industrial Bank of Korea (IBK) and IBM Korea 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.

((Comments on this story may be sent to newsdesk@closeupmedia.com))

((Distributed via M2 Communications Ltd - http://www.m2.com))

http://www.10meters.com

Comments on this story may be sent to newsdesk@closeupmedia.com

For full details on International Business Machines Corporation (IBM) click here. International Business Machines Corporation (IBM) has Short Term PowerRatings of 7. Details on International Business Machines Corporation (IBM) Short Term PowerRatings is available at This Link.

More News: Market Updates | Stock Alerts | All Trading News | Stock Index

Archives

Feedback

Email Article Link

Close X

RELATED SITES

Please call 1-213-955-5858 ext. 1

Tax Relief Bank Levy Wage Garnishment

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.