Six Financial Sector Association Heads Unite to Focus Efforts on the Success of the 'K-New Deal'

The heads of six financial associations, including the Chairman of the Korea Federation of Banks, attended the 1st Korean New Deal Strategy Meeting online on the 3rd and announced that all financial associations will join forces to actively support the 'Korean New Deal' policy. The photo shows the financial association heads attending the Korean New Deal Strategy Meeting. From left to right: Kim Juhyun, Chairman of the Credit Finance Association; Na Jaecheol, Chairman of the Korea Financial Investment Association; Kim Taeyoung, Chairman of the Korea Federation of Banks; Kim Yongdeok, Chairman of the General Insurance Association; Shin Yonggil, Chairman of the Life Insurance Association; Park Jaesik, Chairman of the Korea Federation of Savings Banks. Photo by XXX

[Asia Economy Reporter Jo Gang-wook] Six associations across the financial sector have agreed to concentrate their efforts to ensure the success of the Korean New Deal project.

According to the financial sector on the 3rd, the chairpersons of six financial associations?the Korea Federation of Banks, Korea Financial Investment Association, Korea Life Insurance Association, Korea Non-Life Insurance Association, Korea Credit Finance Association, and Korea Federation of Savings Banks?attended the '1st Korean New Deal Strategy Meeting' held at the Blue House that morning via online connection and pledged to actively support the Korean New Deal policy.

On this day, Kim Tae-young, chairman of the Korea Federation of Banks, representing the six financial associations, stated, "Through New Deal funds, private capital should flow into the digital and green sectors to increase jobs and assets for the people, and enable our industries to lead the post-COVID-19 era."

Chairman Kim also emphasized, "Just as K-Quarantine has become a global model, K-New Deal should also become a worldwide model for economic recovery and leap forward. All financial associations will unite to actively support the Korean New Deal policy."

After the meeting, the chairpersons of the six financial associations agreed to focus the financial sector's capabilities on supporting the Korean New Deal.

The chairpersons said, "So far, the financial sector has made its best efforts to provide financial support to small and medium-sized enterprises and small business owners struggling due to COVID-19, stabilize financial markets, and prevent the spread of the virus. However, we also recognize the need to prepare for the post-COVID-19 era alongside efforts to overcome the crisis, and the financial sector will join forces to play an active role, including supporting large-scale funds in the market for the Korean New Deal."

Going forward, each association plans to closely cooperate by forming and operating a joint financial sector task force as needed to ensure that K-New Deal achieves visible results in a short period of time.

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