Saemaeul Geumgo Central Association Resolution for Reform: "We Will Fulfill Our Social Responsibility"

Adoption and Announcement of Resolution Actively Embracing Management Innovation Advisory Committee's Innovation Plan
Organization Chart Reduced to 2017 Level and Internal Checks and Balances Strengthened

The Saemaeul Geumgo Central Association adopted and announced a resolution for reform on the 22nd, aimed at securing the trust of the public and growing together with local communities.

Saemaeul Geumgo and the Central Association stated, “We will innovate in our original form in accordance with the founding purpose of this association as a cooperative financial institution for the common people, based on the unique spirit of ‘Sangbusangjo’ (mutual aid).” They further resolved to actively accept the innovation proposals presented by the Management Innovation Advisory Committee and to promptly pursue legislative activities through the National Assembly.

The organization size will also be reduced. The Central Association plans to downsize its organization to the 2017 level and continue efforts for self-reliance. It also intends to actively carry out social contribution activities focusing on vulnerable groups in local communities who need assistance.

Finally, it will strengthen soundness measures to prepare for crisis situations, enhance responsible management, and expand internal control functions.

Kim In, President of the Saemaeul Geumgo Central Association, said, “This year, we will rebuild trust as a regional financial cooperative and become a financial institution that fulfills social responsibility together with local communities,” adding, “We plan to promote legislative support activities, including promptly conveying the determination for the passage of the innovation bill to the National Assembly.”

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