BNK Financial Group Welcomes Passage of "Busan Maritime Capital Special Act"... Launches Group-wide Strategy Package to Lead Maritime Economy

Launch of Special Deposit Products,
Settlement Financial Support,
Maritime Startup Fund,
and New Maritime Power Fund:
A Comprehensive Strategy

BNK Financial Group (Chairman Bin Daein) announced on December 4 that it welcomes the overwhelming passage (255 to 1) of the "Special Act on Support for Relocated Institutions to the Maritime Capital of Busan" in the National Assembly plenary session, and that it will immediately launch a comprehensive group-wide response strategy package to lead the new era of Busan as the maritime capital.

This special act designates Busan as the center of South Korea's maritime policy and provides institutional support for the settlement of Ministry of Oceans and Fisheries and relocated public institution employees, including their residential, educational, and working environments.

It also broadly stipulates financial and administrative measures necessary for the relocation to Busan, and is being evaluated as a turning point that will enable Busan to develop a foundation for maritime industry agglomeration and maritime economic growth, as well as for balanced national development.

Following the approval of the special act at the Cabinet meeting on December 2, BNK Financial Group urgently convened a "Group Maritime City Strategy Task Force" meeting, issued a message welcoming the enactment of the special act and the relocation of the Ministry of Oceans and Fisheries to Busan, and prepared a strategic package to proactively respond to policy changes.

This strategy includes launching financial products linked to government policy, operating promotional and citizen participation programs, and establishing cooperative systems with Busan City and the Ministry of Oceans and Fisheries (including affiliated institutions). Through these actions, the group plans to swiftly fulfill its role as a "specialized maritime financial group."

First, BNK Financial will introduce special deposit products to commemorate the passage of the special act. Following Busan Bank's selection in September as the exclusive lender for Ministry of Oceans and Fisheries employees, the group will further strengthen its comprehensive financial package covering housing, education, and settlement to support the relocation of affiliated institutions and shipping companies to Busan. Expanding financial accessibility for relocated institution employees to ensure their stable settlement will be a top priority.

To foster new marine businesses, a "Maritime Startup Fund" will be established to support innovative companies, and a special period of financial support, including fee reductions, will be offered to marine and fisheries companies.

In addition, BNK Financial Group launched the "BNK New Maritime Power Fund" at the end of October, with joint investment from its subsidiaries, to discover related industries and companies and expand strategic investments in anticipation of South Korea's emergence as a new maritime powerhouse, including the development of Arctic shipping routes. The group also plans to explore ways to expand investment with various institutional investors in the future.

Centered on the newly established "BNK Maritime Finance Future Strategy Think Lab" within Busan Bank in November, the group will share future strategies for Busan's maritime economy and regularly hold industry-academia-research-finance forums to strengthen the maritime industry network. Regional participation programs, such as an idea contest for the future maritime city of Busan targeting citizens and university students, will also be promoted to spread the vision of Busan as the maritime capital. Through these efforts, the group aims to solidify its leadership as a maritime financial institution that grows together with the local community.

A BNK Financial Group representative stated, "The enactment of the special act is a decisive opportunity for Busan, Ulsan, and Gyeongnam to once again lead the future of South Korea," adding, "We will fulfill our role and responsibility as the private financial group that responds most quickly when policy changes."

BNK Financial Group plans to accelerate tangible results as a leading financial group in the maritime economy by forming a working group with the Ministry of Oceans and Fisheries, expanding financial support for relocated institutions and their employees, and establishing a financial support system for the creation of a maritime industry cluster.

BNK Financial Group.

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