Saemaeul Geumgo Enters the Era of 200 Trillion KRW in Assets

[Asia Economy Reporter Kim Min-young] Saemaeul Geumgo has entered the era of total assets exceeding 200 trillion won.

Saemaeul Geumgo Central Association announced on the 28th that as of the 24th, its assets reached 200 trillion and 56 billion won, surpassing the 200 trillion won mark in total assets. This achievement came about eight years after reaching 100 trillion won at the end of September 2012.

Saemaeul Geumgo explained that this asset growth is thanks to customer trust. Unlike other financial institutions during the International Monetary Fund (IMF) foreign exchange crisis, Saemaeul Geumgo overcame the crisis without public funds and was recognized for the stability of its system by introducing the depositor protection system in an advanced manner in 1983. Additionally, policy fund loans started in 2008 have now exceeded a cumulative handling amount of 5 trillion won.

Founded in 1963 in the Gyeongsangnam-do region, Saemaeul Geumgo has laid the foundation for community relational finance over its 60-year history. As of the end of last month, there are 1,300 Geumgo branches and 3,225 stores. The number of member customers reaches 20.64 million, meaning about one in two adult citizens aged 19 and over (approximately 43 million) is a member.

Park Cha-hoon, Chairman of Saemaeul Geumgo Central Association, stated, “We will fulfill the social responsibilities befitting assets of 200 trillion won and respond to the Fourth Industrial Revolution and the post-COVID era through continuous innovation.”

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