[Weekly Savings Banks] Savings Banks Association Chairman Conducts On-Site COVID-19 Inspection

Jae-sik Park, President of the Korea Federation of Savings Banks

[Asia Economy Reporter Kim Min-young] On the 8th, Park Jae-sik, Chairman of the Korea Federation of Savings Banks, visited the NH Savings Bank Dongdaemun branch in Seoul to check the operation status of maturity extensions and interest repayment deferrals for small and medium-sized enterprises and self-employed individuals affected by the novel coronavirus infection (COVID-19).

Chairman Park said, "The reason why savings banks exist today is because customers trusted and continuously transacted with them, so now it is time for savings banks to support customers in overcoming the crisis." He added, "I ask the savings bank industry to actively support customers who are struggling due to COVID-19 through new financial support and principal and interest repayment deferrals."

The savings bank industry is providing financial support such as maturity extensions and new loans to self-employed individuals and small business owners facing difficulties due to COVID-19. They are also participating in overcoming the crisis through donations and material support for vulnerable groups.

As of the 3rd, about 115.8 billion KRW (including maturity extensions, principal repayment deferrals, new loans, etc.) in financial support has been provided, and social contribution activities amounting to 2.42 billion KRW through donations and material support have also been carried out.

◆ SBI Launches ‘Selected and Receiving’ Advertisement

SBI Savings Bank has launched a new advertising campaign called ‘Selected and Receiving’ to widely promote its mid-interest rate products to the public and revitalize the market.

This advertising campaign emphasizes that SBI Savings Bank’s mid-interest rate products are the most chosen in the industry.

In particular, the message ‘the product most chosen by customers’ and the use of SBI Savings Bank’s company name with the slogan ‘S (Selected), B (Receiving), I (Is)’ are creatively conveyed through the king of beasts, the lion, making it fun and easy for the public to understand SBI Savings Bank and mid-interest rates.

An SBI Savings Bank official said, “Since 2015, we have made great efforts to reduce the high-interest burden on ordinary people by revitalizing the mid-interest rate market, and now handle the most mid-interest rate products in the savings bank industry.” He added, “Through the launch of this new advertising campaign, we will not only promote mid-interest rate products to the public but also faithfully fulfill our role as a financial institution for ordinary people by revitalizing and expanding the mid-interest rate market.”

◆ JT Savings Bank Exhibits Artworks at Headquarters

JT Savings Bank announced that it will exhibit artworks borrowed from the Seongnam Art Bank to satisfy the cultural thirst of customers and local residents.

The Seongnam Art Bank is operated by the Seongnam Cultural Foundation, a public institution in Seongnam City, Gyeonggi Province. The collection consists of works by young and middle-aged local artists based in the Seongnam area.

JT Savings Bank plans to display and open the borrowed paintings at its headquarters located in Seongnam, Gyeonggi Province. The first exhibited works will be ‘Mother’ by artist Lee Hanna and ‘Mother’s Memory 1’ by artist Hwang Hyun-sook, allowing customers to appreciate the artworks while conducting banking business.

Choi Sung-wook, CEO of JT Savings Bank, said, “We planned this to help customers and employees visiting JT Savings Bank easily access art in their daily lives through art sharing, relieve their cultural thirst, and contribute in some way to revitalizing local culture and arts.”

◆ Welcome Savings Bank Recruiting Customer Panels

Welcome Savings Bank is recruiting customer panels for this year’s ‘Welcome On(on)’ program.

Started in 2017 and now in its fourth year, the customer panel system aims to incorporate diverse consumer ideas and opinions into Welcome Savings Bank’s management activities to provide better financial services.

Through the previous three customer panel operations, initiatives such as ‘establishing consultation counters exclusively for the elderly,’ ‘improving convenience in electronic finance usage,’ and ‘content ideas’ have been reflected in management activities, playing a significant role in providing customer-first financial services, the company said.

Unlike previous customer panel systems, this year’s program will be divided into offline and online panels.

About 10 offline panelists will be recruited. The target applicants are customers highly interested in Welcome Savings Bank’s financial products, services, and system improvements. They will receive an activity fee of 200,000 KRW, with additional fees for outstanding panelists.

Up to 30 online panelists will be recruited. These customers should be able to provide various ideas to enhance the convenience of electronic finance such as mobile applications and websites. They will receive 30,000 KRW per topic as an activity fee, with additional fees for outstanding panelists. Applications for customer panels can be submitted via email.

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