SUEUN's Major Keywords for Next Year: 'All-in on Exports', 'Digital SUEUN', and 'ESG'

Export-Import Bank Holds Management Strategy Meeting for 2021 Business Plan... Online Live Broadcast to All Employees
Establishing Comprehensive Export Support System Including K-New Deal 30 Trillion Won (5 Years) to Regain $600 Billion Export
Promoting Responsible and Substantial Management Through Digital Transformation and ESG Expansion Optimized for KEXIM

On the afternoon of the 20th, the Export-Import Bank held a 'Management Strategy Meeting' at its Yeouido headquarters to discuss measures to strengthen the bank's role in reclaiming $600 billion in exports, digital innovation plans, and the creation of social value through the expansion of ESG. Photo by Bang Moon-kyu, President of the Export-Import Bank, who is on the far left. To prevent the spread of COVID-19, partitions were installed on-site, and the meeting was conducted using a video conferencing system and online platforms.

[Asia Economy Reporter Kangwook Cho] The Export-Import Bank of Korea (KEXIM) has presented three key keywords?'export, digital, ESG (environment, social, governance)'?as its major management strategy goals for next year.

KEXIM announced on the 22nd that it held a 'Management Strategy Meeting' on the 20th at its Yeouido headquarters via online live broadcast to set the main directions of its 2021 business plan.

To prevent the spread of COVID-19, only about 30 people including KEXIM President Visit Kyu, executives, and department heads attended the offline venue, while branches participated through a video conferencing system.

During the two-hour online live broadcast to all employees, the meeting featured in-depth discussions among attendees on ways to strengthen KEXIM’s role in reversing the declining trend of South Korea’s export volume, which peaked at $600 billion in June 2018.

According to the Korea International Trade Association and KEXIM, annual export amounts have shrunk from $604.9 billion in 2018 to $542.2 billion in 2019, and an estimated $505 billion this year.

The main topics of the meeting were △ KEXIM’s comprehensive support measures to dramatically expand South Korea’s exports in the post-COVID-19 era △ digital innovation strategies to cope with the untact (contactless) environment changes △ and creating social value through the spread of ESG (environment, social, governance).

First, to lead the globalization of the K-New Deal, KEXIM plans to supply a total of 30 trillion won over the next five years, including 5 trillion won next year, and to take the lead in 'Team Korea' to prepare for large-scale overseas construction plant orders postponed until after next year due to COVID-19.

Team Korea is a consultative body composed of the Korean government, policy financial institutions, public enterprises, and private construction companies to discuss overseas project order strategies and share information for mutual cooperation.

They also discussed the ongoing need for special support measures for affected companies amid the continuing COVID-19 situation and specific risk response strategies due to deepening corporate insolvency.

KEXIM plans to establish online non-face-to-face services and an automatic screening system next year, making 2021 the inaugural year of the true 'Digital KEXIM.'

Along with this, recognizing the importance of ESG as a key management keyword in the post-COVID-19 era, KEXIM plans to reform the existing ESG system centered on credit and bond issuance and internalize 'ESG management' across all areas of bank operations.

President Bang emphasized at the meeting, “The direction KEXIM will take in 2021 is all-in on exports,” adding, “KEXIM will be the vanguard in reclaiming $600 billion in exports.”

He also stated, “KEXIM will fulfill its role as an active and proactive policy financial institution through comprehensive support covering the K-New Deal, innovative growth, construction plants, and small and medium enterprises next year,” and “Digital transformation and ESG are irresistible trends, and we will prioritize tasks that customers and employees can feel by aiming for digitalization and ESG internalization optimized for KEXIM.”

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