Yoon Jong-won, CEO of Industrial Bank of Korea, "Expanding the Proportion of SME Loan Supply in the First Half"

"Financial Support Measure Delay Rate, Need for Proactive Management of Latent Risks"
"Efforts Needed to Visualize Innovation Finance Achievements and Establish Sound Management"
"Loan Structure and Financial Support Methods Must Be Changed to Be Future-Oriented"

Yoon Jong-won, President of IBK Industrial Bank, is sharing this year's key strategic directions and implementation plans at the nationwide non-face-to-face branch managers' meeting.

[Asia Economy Reporter Kwangho Lee] Yoon Jong-won, President of IBK Industrial Bank of Korea, stated, "We will expand the proportion of loans supplied to small and medium-sized enterprises (SMEs) in the first half of the year to support companies facing temporary liquidity difficulties."

According to IBK on the 7th, President Yoon held a non-face-to-face "National Branch Managers Meeting" on the 5th at the IBK Finance Tower in Euljiro, Seoul, where he shared the main strategic directions and implementation plans for this year. He said, "Above all, supporting SMEs and small business owners to overcome the COVID-19 crisis must be the top priority."

He also urged, "For structurally challenged companies, we will assist in structural improvements, and it is necessary to proactively manage latent risks to ensure that financial support measures can be smoothly implemented."

President Yoon said, "Due to changes in the business environment caused by COVID-19, the banking industry and IBK are facing a critical turning point," and asked branch managers to work as field leaders to support overcoming the COVID-19 crisis, realize innovative financial achievements, and establish sound management."

He continued, "As digital transformation rapidly progresses, traditional banking areas are being encroached upon and are transforming into invisible banks," emphasizing, "We must shift to a customer-oriented mindset that values customer contact points and experiences, and also change the loan structure and financial support methods to be future-oriented."

Furthermore, he mentioned, "We are preparing a major project in innovative finance, and the 'Financial Doctor Program,' which combines SME financial expertise with digital technology, should be able to provide customized prescriptions for SMEs. Please provide field opinions to help achieve this."

He added, "Through strengthening internal controls, we must reduce financial accidents and corruption to zero, and firmly build trust with customers by establishing sound management, including preparing for regulatory changes following the enforcement of the Financial Consumer Protection Act in March."

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