Gwangju Bank, Regional Bank Brand Power Ranked '1st' for 3 Consecutive Years

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 21st that it held the certification ceremony for being ranked first in the regional bank category of the ‘2020 Korea Industry Brand Power (K-BPI).’

Now in its 22nd year, the ‘Korea Industry Brand Power (K-BPI)’ is a brand management model developed by the Korea Management Association Consulting (KMAC) in 1998, the first of its kind in Korea. It is a representative brand evaluation system in Korea 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, residing in Seoul and six major metropolitan cities, from mid-October last year to mid-January this year.

Gwangju Bank received high evaluations in loyalty categories such as image, preference, and usability, achieving the remarkable feat of being ranked first in the regional bank category of the ‘Korea Industry Brand Power (K-BPI)’ for three consecutive years since 2018.

Korea Management Association Consulting (KMAC) congratulated Gwangju Bank on its award, stating, “This excellent result of ranking first for three consecutive years was achieved as a result of solid local business capabilities, continuous innovation in digital banking, and the dedicated efforts of employees toward social responsibility.”

Song Jong-wook, President of Gwangju Bank, said, “Despite the rapidly changing management environment due to the digitalization of finance and fierce market competition, the development of products and services that embrace customers’ hearts, 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.’” “Going forward, as the representative bank of Gwangju and Jeonnam, we will continue to do our best in corporate social responsibility while coexisting with the region through continuous customer-centered and community-based management.”

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