Oh Hwa-kyung, President of the Korea Federation of Savings Banks, "Fulfilling a Key Role in Microfinance"

Oh Hwa-kyung, Chairman of the Korea Federation of Savings Banks, stated in his New Year's address on the 29th, "We will do our best to faithfully fulfill the pivotal role of microfinance so that customers' trust can take deeper root."

Oh Hwa-kyung, CEO of Hana Savings Bank, is being interviewed on the 17th at the Hana Financial Group Gangnam Building in Gangnam-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

Chairman Oh said that despite the expansion of uncertainties in the financial market such as high interest rates and high inflation this year, the savings bank industry faithfully performed its core roles, including ▲ signing a voluntary agreement for the smooth landing of project financing (PF) loans and establishing a normalization fund ▲ promoting joint sales to dispose of non-performing loans ▲ expanding the handling of Sunshine Loans for middle- and low-credit borrowers.

He added, "In 2024, we will strengthen support for member companies' soundness management, such as resolving instability and providing support for loans including PF, and reducing non-performing loans, as well as supporting stable liquidity management for member companies." He also announced plans to enhance operational support, including internal control management support, efficient fund operation such as customized deposit management, and support for infrastructure projects to protect financial consumers such as the elderly.

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