Shin Yong Bo Jeung Gi Geum, Chairman Choi Won Mok Inauguration

[Asia Economy Reporter Eunju Lee] Choi Wonmok, former Director of the Planning and Coordination Office at the Ministry of Strategy and Finance, has been appointed as the 24th Chairman of the Korea Credit Guarantee Fund. Chairman Choi began his term by sending an inaugural address to all employees through the company bulletin board, foregoing a separate inauguration ceremony, and outlining his future plans.

In his inaugural address, Chairman Choi stated, "It is time to concentrate all the institution's capabilities to overcome the economic crisis and achieve a new leap forward," adding, "In a situation where uncertainty is increasing due to a complex crisis, we will establish a seamless crisis response system for small and medium-sized enterprises, which are the foundation of our economy."

To this end, he announced plans to "focus on advancing an integrated management system for proactive risk management, supporting the smooth recovery of companies affected by COVID-19, and strategic responses for maintaining internal soundness." Furthermore, he emphasized, "To achieve economic revitalization, we will add new value to future policy finance by expanding supply in future innovation sectors, promoting digital financial innovation, and fostering innovative startups."

Chairman Choi Wonmok entered public service as the 27th pass of the Korean civil service examination. He has extensive experience in public office, international organizations, and the private sector, having served as Financial Attach? at the Embassy in the United Kingdom, Director of the Fiscal Management Bureau at the Ministry of Strategy and Finance, Secretary for National Tasks and Economic and Financial Secretary at the Presidential Secretariat, Director of the Planning and Coordination Office at the Ministry of Strategy and Finance, Executive Director at the Asian Development Bank (ADB), and Auditor at the Korea Financial Telecommunications and Clearings Institute.

The Korea Credit Guarantee Fund stated, "Chairman Choi is the right person to develop the Fund into a hub for supporting small and medium-sized enterprises and startups, based on his expertise in establishing financial support measures to respond to economic crises, as well as policy finance and public institution budget and organizational management."

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