"Let's Manage the Field" Bank Presidents Take Quick Steps for SMEs from the Beginning of the Year

On the afternoon of the 14th, Ban Moon-kyu, President of the Export-Import Bank of Korea, visited Oisolution, a strong small and medium-sized enterprise in the materials, parts, and equipment sector located in Gwangju Metropolitan City, as his first on-site communication activity of the new year, to listen to the difficulties faced by the related industry. From left: Park Yong-kwan, CEO of Oisolution; Park Hwan, Vice President of Oisolution; Ban Moon-kyu, President of the Export-Import Bank of Korea.

[Asia Economy Reporter Kangwook Cho] Financial sector leaders have been accelerating their on-site communication efforts since the beginning of the year. As the economic recession continues, bank presidents are actively visiting companies facing financial difficulties to provide support for small and medium-sized enterprises (SMEs). They are conducting on-site inspections and CEO meetings to offer practical assistance to SMEs.

According to the financial sector on the 26th, Bang Hyun-gyu, President of the Export-Import Bank of Korea, visited Oisolution, a strong small and medium-sized enterprise in the materials, parts, and equipment sector located in Gwangju, on the 14th as his first on-site communication activity of the new year to listen to the difficulties faced by the related industry.

Oisolution is a strong SME that manufactures and exports core components for 5th generation (5G) mobile communications, such as optical transceivers and smart transceivers. Optical transceivers are components that enable optical communication by converting electrical signals and optical signals mutually in optical communication transmission and reception devices such as high-capacity routers and switches.

The company is currently collaborating with the Electronics and Telecommunications Research Institute (ETRI) to localize optical devices (laser diodes), which account for about 30% of the cost of optical transceivers. Once product development is completed and commercialized, it is expected to replace imports of optical devices currently sourced from Japan and the United States.

President Bang said, "We will do our best to ensure smooth funding for mergers and acquisitions (M&A), research and development (R&D), and facility investments necessary to secure core technologies of excellent small and medium-sized enterprises in the materials, parts, and equipment sector."

Lee Dae-hoon (left), President of NH Nonghyup Bank, visited International Rare Earth Metals located in Gyeongju Cheonbuk Industrial Complex on the 17th and is touring the inside of the factory with CEO Jang Jun-ho.

Lee Dae-hoon, President of NH Nonghyup Bank, visited Kukje Rare Metals located in the Cheonbuk Industrial Complex in Gyeongju on the 17th, ahead of the Lunar New Year, to listen to the difficulties faced by SMEs on site. Kukje Rare Metals is a manufacturing SME certified as a ‘technology-innovative small and medium enterprise’ by the Innobiz Association, an exclusive partner of Nonghyup Bank, and holds patents related to rare earth metals. The company produces carbon and stainless steel tubes, which are core materials and parts for heat exchange equipment.

President Lee expressed gratitude to Kukje Rare Metals, which has grown alongside Nonghyup Bank as a main client, and said, “We will prepare support measures that can provide practical help to SMEs by reflecting the difficulties faced by companies.”

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