Yoon Jong-won, CEO of IBK, "Supporting SMEs to Overcome Crisis Remains Top Priority in Second Half"

IBK Industrial Bank Holds Nationwide Branch Managers Meeting
Sharing Second Half Strategic Directions and Initiatives

On the 22nd, Yoon Jong-won, President of IBK Industrial Bank, is holding a nationwide branch managers' meeting at the IBK Industrial Bank Chungju Training Center.

[Asia Economy Reporter Song Hwajeong] IBK Industrial Bank has set its strategic direction for the second half of the year as 'Crisis Response and Foundation Strengthening,' presenting key tasks such as supporting small and medium-sized enterprises (SMEs) in overcoming crises, strengthening the role of policy finance, and internalizing sound management.

IBK Industrial Bank announced on the 24th that it held a nationwide branch managers meeting at the Chungju Training Center on the 22nd to share the strategic direction and tasks for the second half of 2022. Considering the resurgence of COVID-19, the meeting was conducted both on-site with some employees attending and simultaneously via real-time video conference.

President Yoon Jong-won stated, "The management situation of SMEs has become more difficult due to the triple crisis (high interest rates, high inflation, and high exchange rates) following the COVID-19 crisis," adding, "The role of IBK, as a policy bank, is crucial at this time." Furthermore, President Yoon emphasized the role of policy finance by saying, "Financial services must support innovation in companies and industries and enhance the dynamism of the national economy. We need to change the role of policy finance accordingly." He continued, "In preparation for industrial structural changes such as digital and low-carbon transitions, we will proactively support SMEs' business restructuring and lead the market in areas where private finance alone is insufficient, such as startups and venture companies."

At this meeting, the strategic direction for the second half of the year was set as crisis response and foundation strengthening, with the main tasks being ▲support for SMEs to overcome crises ▲strengthening the role of policy finance ▲internalization of sound management.

In particular, under the policy to alleviate the financial cost burden on SMEs and small business owners and to increase financial inclusiveness, the top priority for the second half of the year was set as crisis support, providing more assistance to companies facing greater difficulties.

President Yoon urged, "It is difficult to predict when the current complex crisis situation will stabilize," and requested, "Please thoroughly manage risks to continuously support SMEs."

The meeting also included an awards ceremony for branches with excellent business performance, sharing the achievements of IBK's innovative management, and a time to empathize with the need for communication and understanding among employees through a generational empathy video.

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