Jo Byung-kyu, Deputy Head of Woori Bank, and Others Awarded for Contributions to Financial Support for SMEs and Ventures

The 27th Small and Medium Venture Business Financial Support Awards Ceremony Held

Jo Byung-kyu, Vice President of Woori Bank

[Asia Economy Reporter Kim Cheol-hyun] The Ministry of SMEs and Startups (Minister Lee Young) announced on the 20th that it held the awards ceremony for the "27th SME and Startup Financial Support Awards." The SME and Startup Financial Support Awards were established to recognize and encourage outstanding financial institutions and their employees who have made efforts to support financing for small and medium enterprises and small business owners, and to promote financial support for SMEs and startups.

This year, a total of 72 awards were presented, including 12 government awards such as orders and medals, and 60 commendations from heads of institutions. Two organizations were selected as excellent financial support groups: Hana Bank (Presidential Citation) and Incheon Credit Guarantee Foundation (Presidential Citation). Outstanding individuals included Cho Byung-kyu, Vice President of Woori Bank (Silver Tower Order of Industrial Service Merit), and Lee Yeon-ho, Vice President of NongHyup Bank (Order of Industrial Service Merit).

Vice President Cho Byung-kyu of Woori Bank, who received the Silver Tower Order of Industrial Service Merit, was recognized for his contributions to implementing various SME support policies such as active loan expansion, co-growth between large and small-medium enterprises, and ESG (Environmental, Social, and Governance) financial support to resolve the economic downturn and funding difficulties caused by COVID-19. Vice President Lee Yeon-ho of NongHyup Bank, who received the Order of Industrial Service Merit, contributed to alleviating financial difficulties of SMEs through expanded funding supply to SMEs facing temporary liquidity crises and operating proactive autonomous restructuring programs.

Hana Bank, which received the Presidential Citation in the group category, implemented comprehensive financial support measures for SMEs with weak financial power during the COVID-19 period, including special maturity extensions and special principal and interest repayment deferral systems. In addition, it greatly improved customer convenience through the Small Business Field Support Center and its expansion, the launch of a non-face-to-face online platform, and institutional improvements. The Incheon Credit Guarantee Foundation received the Presidential Citation in the group category for its contributions to financial support for SMEs and startups by providing interest-free management stabilization funds to COVID-19 affected companies and actively implementing special guarantee programs to support debtor re-challenge.

Cho Joo-hyun, Vice Minister of the Ministry of SMEs and Startups, said, "The difficulties faced by SMEs and small business owners, who are currently experiencing the triple crisis of rapid interest rate hikes, high exchange rates, and high inflation, are still ongoing," adding, "We hope that financial support will continue to be a reliable pillar to help SMEs and small business owners completely overcome the current crisis and leap forward by pooling wisdom together."

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