Gwangju Bank Holds 'Video Conference' Opening Ceremony for the New Year

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 4th that it held a kick-off ceremony to reaffirm the new determination of its executives and employees for the new year.

This year's kick-off ceremony was held non-face-to-face through video conferences with all branches in accordance with the social distancing policy for 'COVID-19', and the appearance of Gwangju Bank President Song Jong-wook delivering the New Year's address at the head office KJ Sangsaeng Maru was broadcast live.

Despite the impact of 'COVID-19' and the era of 3 lows (low interest rates, low growth, low inflation) last year, Gwangju Bank achieved a net profit of 137.7 billion KRW by the third quarter of 2020, while maintaining the highest level of stability and soundness in the banking sector in terms of non-performing loan ratio and delinquency ratio, achieving remarkable management performance.

In addition, it became an opportunity to further solidify the status of Gwangju and Jeonnam’s representative bank by ▲winning first place for three consecutive years in the local bank category of Korea Industry Brand Power ▲contributing to the revitalization of local currency such as the Win-Win Card ▲making all-out efforts to support local small business owners affected by 'COVID-19'.

Gwangju Bank executives and employees shared the new plan for Gwangju Bank in 2021 through video cams, and despite the prolonged economic recession caused by the 'COVID-19' pandemic and the fierce competitive environment due to the entry of fintech and big tech companies into the financial industry, they pledged to grow into a sustainable 100-year bank through solid qualitative growth and structural improvement.

To leap forward as a leading bank with the best profitability and soundness among local banks, they presented strategies to ▲focus on inclusive finance and productive finance based on ESG management philosophy ▲establish a foundation for responsible management through profitability and cost efficiency ▲provide clear directions for innovation ▲manage asset soundness proactively ▲and create a vibrant organization.

As detailed action plans, they announced ▲strengthening corporate social responsibility that pursues public interest and the value of coexistence to expand inclusive and productive finance and continuously enhance social contribution activities ▲securing sustainable growth engines through strategic selection and concentration based on profitability and cost efficiency of each business division and rational decision-making ▲establishing innovative strategies that cover both face-to-face and non-face-to-face channel sales by establishing business models and strengthening digital capabilities to enhance sales power ▲and focusing capabilities on proactive asset soundness management in preparation for changes in the post-COVID era.

Gwangju Bank President Song Jong-wook said, “The year 2020 was a longer year than ever due to the impact of 'COVID-19', and it was a year in which all executives and employees struggled to overcome the crisis faced by the region together with local residents and achieve regional win-win development.” He added, “In 2021, we will boldly implement change and innovation to cope with the accelerating 'COVID-19' crisis and fierce competition in the digital financial industry, and do our best to achieve excellent management performance based on customer value and social responsibility.”

He continued, “With the mission of being the representative bank of Gwangju and Jeonnam, let us pursue values beyond profit called regional win-win development through regionally close management and become the most beloved 100-year bank by local residents.”

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