Yoon Jong-won, CEO of IBK, "Will Actively Support SMEs' Green Transition"

President Yoon, OECD-hosted International Forum

On the 2nd, at the non-face-to-face international forum hosted by the OECD, Yoon Jong-won, President of Industrial Bank of Korea, is seen discussing with bank presidents representing small and medium-sized enterprise financing from various countries.

[Asia Economy Reporter Jin-ho Kim] Yoon Jong-won, President of IBK Industrial Bank of Korea, emphasized, "Carbon neutrality and green transition are directly linked to the survival of small and medium-sized enterprises (SMEs), so IBK will actively support this by leveraging its expertise."

According to IBK, President Yoon made these remarks while participating in an international forum held yesterday by the OECD (Organisation for Economic Co-operation and Development).

The forum was held under the theme "The Role of Finance in Supporting the Sustainability of SMEs." Panelists included President Yoon, Catherine Lewis, CEO of the British Business Bank, and Isabelle Hudon, President of the Business Development Bank of Canada.

Bank presidents from various countries focused their discussions on the role of policy finance and international cooperation measures to support the sustainable growth of SMEs amid significant changes such as the post-COVID era, ESG management, and the transition to a carbon-neutral economy.

President Yoon stated, "Green values must be reflected in financial institutions' credit and investment decisions," emphasizing, "Active risk-taking is necessary to reduce private investment risks and encourage green actions."

He also advocated for the need to share data, statistics, and best practices related to the green transition centered on the OECD platform. He added that expanding green new deal investments for technological innovation is essential to achieve the national greenhouse gas reduction target (NDC) by 2030.

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