Gwangju Bank Recaptures Nam-gu Office Treasury "Solidifying Position as Regional Bank"

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] Gwangju Bank (President Song Jong-wook) announced that it has reclaimed the Gwangju Metropolitan City Nam-gu Office treasury after three years.

Gwangju Bank has regained the Gwangju Metropolitan City Nam-gu Office treasury, which had been managed by Kookmin Bank from 2019 to 2021. With the Nam-gu Office treasury, which had been operated as a single treasury, being divided into the first and second treasuries starting next year, Gwangju Bank will manage the general account as the first treasury and operate approximately 150 billion KRW over four years from 2022.

Notably, as a regional local bank, Gwangju Bank has been entrusted as the dedicated bank for the Gwangju Metropolitan City treasury and the five district treasuries of Gwangsan, Dong, Seo, Nam, and Buk-gu, achieving a grand slam. This further solidifies its status as the representative bank of Gwangju and Jeonnam, proving the trust from local residents, regional companies, and the community.

Going forward, while managing local government treasuries, Gwangju Bank plans to prevent the outflow of regional funds and create a virtuous cycle within the region, further strengthening financial support for local small and medium-sized enterprises and middle-income residents.

Last year, President Song Jong-wook’s strong will and determination in securing local government treasuries, which are the foundation of regional banks’ existence, shone through with the selection of the Gwangsan-gu treasury in Gwangju after 33 years, the Mokpo City treasury after 59 years, and the reclamation of the Suncheon City treasury after six years, earning high praise.

Having received the ‘Excellent’ grade in the 2021 Regional Reinvestment Evaluation announced by the Financial Services Commission and the Financial Supervisory Service in August, Gwangju Bank expressed its commitment to prioritizing contributions to regional economic growth through local fund supply, support for small and medium-sized enterprises, infrastructure investment, and practicing customer-centered and community-based management as a financial institution receiving local deposits.

President Song Jong-wook of Gwangju Bank said, “In particular, we will actively lead the revitalization of the regional economy by preventing the outflow of public funds raised with local taxpayers’ money, creating a virtuous cycle through financial support for local small and medium-sized enterprises and middle-income residents, and practicing the values of ‘walking together with local residents and coexisting with the region.’”

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