Gwangju Bank Holds Opening Ceremony... Pledges a New Leap Forward

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 2nd that it held the 2020 opening ceremony with about 500 attendees, including President Song Jong-wook and employees.

Last year, Gwangju Bank achieved meaningful results that solidified its status as the representative bank of Gwangju and Jeonnam, including ▲successful acquisition and retention of local public treasury accounts such as Mokpo City and Gwangsan-gu treasury ▲investment of 26 billion KRW as the third largest shareholder of Gwangju Global Motors Co., Ltd. ▲laying the groundwork for overseas expansion through the acquisition of a Vietnamese securities company.

Despite the prolonged economic downturn, strengthened regulations triggered by the DLF incident, and increasingly fierce competition due to the emergence of fintech companies and third internet-only banks, Gwangju Bank employees demonstrated their capability to actively respond to changes and pledged to overcome the crisis and make a fresh leap forward.

Furthermore, to grow into a 100-year bank, this year they presented four major management strategies: ▲expanding sales power in the Gwangju and Jeonnam regions ▲solid qualitative growth ▲discovering future growth engines ▲strengthening the role as a regional partner and inclusive finance.

As detailed action plans, they announced ▲developing tailored public treasury acquisition strategies by region and institution, strengthening the local business base through expanded agreements with local industrial complexes, local governments, and guarantee foundations ▲building strong fundamentals through increased customer utility and proactive asset soundness management ▲enhancing competitiveness through digitalization of all channels and tasks, and discovering and expanding new business models through external collaboration ▲practicing inclusive finance by providing the best financial services and active funding support to local residents and small and medium-sized enterprises in the region.

In particular, through expanding sales power in the Gwangju and Jeonnam regions, they set specific goals to increase the loan and deposit market share (M/S) by 4 percentage points to 35% in the Gwangju area and by 6 percentage points to 20% in the Jeonnam area by the end of 2022.

As the representative bank of Gwangju and Jeonnam, Gwangju Bank set this year’s slogan for leaping into a 100-year bank as ‘Only One Way, Rebuilding KJB’ and will carry out the ‘3-One’ three major practice campaigns to achieve this.

President Song Jong-wook of Gwangju Bank said, “Last year’s achievements were possible because of the unwavering support from the residents and customers of the Gwangju and Jeonnam regions. I also thank the employees who quietly did their best in their roles at the sales sites,” and added, “In 2020, let us do our best to achieve excellent management performance based on customer value and social responsibility with the sense of mission as the representative bank of Gwangju and Jeonnam, coexist and accompany the region, and become the most beloved bank by the local residents.”

This content was produced with the assistance of AI translation services.