Yoon Jong-won, CEO of IBK, Visits Gwangju Area SMEs on Site

On the 9th, Yoon Jong-won, President of IBK Industrial Bank (center), visited the Dongmyeong Jeonggong production site in Gwangju and received an explanation about the production process from company officials. Photo by IBK Industrial Bank

[Asia Economy Reporter Kim Min-young] Yoon Jong-won, President of IBK Industrial Bank of Korea, met with small and medium-sized enterprises (SMEs) facing difficulties such as sluggish domestic demand and export cliffs due to the novel coronavirus disease (COVID-19) to hear their on-site opinions.

IBK announced on the 10th that President Yoon visited the Gwangju area the previous day, held a meeting with SME representatives, and visited the automobile parts industry site affected by production stoppages.

At the meeting, representatives of large companies' partner firms discussed difficulties such as financial troubles caused by poor sales and requested necessary financial support.

President Yoon said, “IBK will continue to provide effective financial support to companies experiencing temporary liquidity difficulties,” adding, “We will also support structural improvement efforts through consulting services to improve the corporate structure.”

Following this, President Yoon visited Dongmyeong Jeonggong Cam, an automobile parts manufacturer in the Jinkok and Hanam industrial complexes in the Gwangju area. The automobile industry is a representative sector currently facing difficulties due to a significant contraction in exports caused by COVID-19.

Then, President Yoon visited bank branches in the Gwangju area and met with employees, urging them, “while listening to the voices from the sales field, please strengthen support efforts such as closely consulting with client companies to alleviate the difficulties of SMEs.”

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