Song Jong-wook, President of Gwangju Bank, Relay Visits to Local Small and Medium Enterprises

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 5th that President Song Jong-wook is continuing a relay visit to small and medium-sized enterprises (SMEs) located in the region, which have been hit hard by the recession due to the spread of the novel coronavirus infection, to listen to voices from the field at the beginning of the year.

President Song Jong-wook will consecutively visit SMEs located in Mokpo on the 5th, Yeosu and Suncheon on the 6th, and Gwangju on the 7th.

On the first day, President Song Jong-wook visited Mokpo Remicon Co., Ltd. (CEO Choi Hee-woong), Daegil General Trading Co., Ltd. (CEO Kim Ji-san), Geunhwa Construction Co., Ltd. (CEO Jang Bo-seong), Sea World Express Ferry Co., Ltd. (CEO Lee Hyuk-young), Korea Construction Co., Ltd. (CEO Park Seung), Mirae General Construction Co., Ltd. (CEO Kim Seong-ho), and Jeonnam Culture and Tourism Foundation (CEO Joo Soon-seon) in succession to listen to financial difficulties.

Last year, President Song Jong-wook visited SMEs in the Daebul Industrial Complex and Mokpo area, which were designated as employment and industrial crisis areas due to the shipbuilding industry recession. Recently, concerned about the worsening regional economic downturn caused by the spread of the novel coronavirus infection, he visited SMEs in the Mokpo area to identify financial support that can provide practical help.

President Song Jong-wook said, “I will deeply empathize with the financial difficulties of our region’s SMEs, which play a pivotal role in the local economy, and do my best to provide practical assistance so that they can regain vitality and overcome the economic recession. As a representative bank of Gwangju and Jeonnam that pursues value beyond profit, we will overcome crises together in difficult times, coexist with the region, and walk alongside the local people.”

Meanwhile, Gwangju Bank has implemented special support targeting local SMEs and individual business owners engaged in travel, accommodation, and food service industries, as anxiety in the local community and economic downturn have intensified due to the spread of the novel coronavirus. It has injected a total of 100 billion KRW in emergency management stabilization funds, with a limit of 500 million KRW per company.

In addition, to promptly receive and process financial difficulties of affected companies, a comprehensive support consultation team has been operated, and employees have been directly dispatched to the affected sites to conduct consulting through on-site inspections, aiming to stabilize the management of local companies and alleviate financial cost burdens.

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