Kim Yoon-sik, President of the National Credit Union Federation, "Will Undertake Bold Challenges for Local Communities and Ordinary People"

Opening Ceremony Held on the 2nd

The National Credit Union Federation of Korea (NACUFOK) announced on the 2nd that it held a kick-off ceremony attended by all executives and employees at the main auditorium of the NACUFOK building in Dunsan-dong, Seo-gu, Daejeon.

On this day, Kim Yoon-sik, Chairman of NACUFOK, stated, "It is time for credit unions to develop differentiated competitiveness amid the increasingly fierce financial market and to undertake bold challenges for local communities and ordinary citizens."

At the 2024 New Year's Ceremony held on the 2nd at the Shinhan Central Cooperative Hall auditorium, Kim Yoon-sik, Chairman of the Shinhan Central Cooperative, is delivering the New Year's address.
[Photo by Suhyup Central Cooperative]

Chairman Kim continued, "Due to the rapid rise in interest rates and the impact of the economic downturn, difficulties in the ordinary people’s economy will persist for a considerable period." He pledged to continuously promote eight inclusive finance initiatives, including expanding financial supply for small business owners and ordinary citizens, providing housing stability loans with interest rates in the 1% range for multi-child families, offering 100 billion KRW interest-free and unsecured loans for employment and industrial crisis areas, financial support for 370,000 multicultural families, and support for the transmission activities of national intangible cultural heritage.

Internally, he emphasized the importance of ensuring no financial blind spots by implementing co-growth policies between large unions and rural/small unions, and fostering mutual growth among credit unions and between credit unions and local communities. Lastly, he said, "We will enhance the credibility of credit unions through fair inspections and supervision, ethical management, and a financial structure that remains stable against any external pressures."

Meanwhile, Chairman Kim has served three consecutive terms as the first Asian director of the World Council of Credit Unions (WOCCU) and as president of the Asian Confederation of Credit Unions (ACCU). Recently, he was also elected as the chairman of the Korea Cooperative Council, which includes NACUFOK, NongHyup, Suhyup, Saemaeul Geumgo, the Korea Forest Cooperative Federation, and the Korea Consumer Cooperative Federation.

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