Gwangju Bank Ranks No.1 in Regional Banks Category of 'Korea Industrial Brand Power'

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 31st that it was selected as the No. 1 local bank for the third consecutive year in the ‘2020 Korea Industry Brand Power (K-BPI)’ announced by the Korea Management Association Consulting (KMAC).

Now in its 22nd year, the ‘Korea Industry Brand Power (K-BPI)’ is a brand management model developed for the first time in Korea by KMAC in 1998. It is Korea’s representative brand evaluation system that measures the brand competitiveness of products, services, and companies in various industries representing Korean consumer life.

This survey was conducted through one-on-one interviews with 11,800 consumers aged 15 to under 60 living in Seoul and six major metropolitan cities from mid-October last year to mid-January this year.

Song Jong-wook, President of Gwangju Bank, said, “This achievement was possible because of the unwavering support from the residents and customers of the Gwangju and Jeonnam regions,” adding, “As consumers’ purchasing decision criteria shift from product and price-centered utility to service quality and satisfaction-centered utility, continuous change and innovation in financial services and brand promotion in line with trends are necessary.”

He continued, “Even amid the rapidly changing management environment due to the digitalization of finance and fierce market competition, developing products and services that embrace customers’ hearts, and communication with customers filled with sincerity aiming for value beyond profit seem to have strengthened Gwangju Bank’s brand as the ‘representative bank of Gwangju and Jeonnam.’”

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