Kim Sung-tae, CEO of Industrial Bank of Korea, "Comprehensive Expansion of Support for Small Business Owners and SMEs"

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IBK Industrial Bank of Korea held the ‘National Branch Managers Meeting’ in the second year of President Kim Seong-tae’s term at the Chungju Training Center and shared the key strategic directions and tasks for 2024, the bank announced on the 4th.

The meeting was attended by about 900 people, including the presidents of group companies such as the newly launched ‘IBK Venture Investment’ in December last year, as well as domestic and overseas branch managers.

President Kim expressed his gratitude to the employees who, despite the challenging management environment last year, successfully fulfilled their role as a policy financial institution by becoming the first in the financial sector to achieve a balance of 230 trillion KRW in SME loans and leading the crisis recovery efforts for small and medium enterprises and small business owners.

He stated, “We must comprehensively expand support measures for SMEs and small business owners who are struggling with financing and financial costs due to rising costs caused by high interest rates and inflation,” setting support for livelihood finance as the top priority. He added, “IBK Industrial Bank of Korea’s role is to expand its function as a catalyst for Korea’s growth engine by leveraging SME policy finance.”

President Kim set this year’s management slogan as ‘IBK that challenges possibilities and continuously innovates’ and presented three major strategic directions to achieve tangible results in enhancing customer value: ▲ sound growth based on customer trust ▲ bold challenges ▲ company-wide innovation.

He emphasized the management philosophy of ‘value finance,’ saying, “Only by increasing customer value can the bank’s value increase. The bank must create a virtuous cycle where the increased value contributes again to enhancing customer value.”

He continued, “To become a global financial group, we must strive to establish a solid foundation for supporting SMEs through balanced growth by transforming personal finance and strengthening competitiveness in non-interest income sectors,” and urged, “To dramatically improve productivity, boldly eliminate unnecessary tasks from the perspective of customer value and actively promote automation and efficiency in operations.”

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