[Weekly Savings Banks] New Talent Infusion and CI Replacement... Savings Banks Making Changes

[Asia Economy Reporter Kim Min-young] The savings bank industry is undergoing changes such as replacing CEOs and changing their CIs.

◆ Kang Dae-young, former Hana Bank Eastern Region Head, appointed as new CEO of Yungchang Savings Bank

Kang Dae-young, former Hana Bank Eastern Region Head, has been appointed as the new CEO of Yungchang Savings Bank.

Yungchang Savings Bank held its 48th regular shareholders' meeting and board meeting on the 30th of last month and appointed Kang as the new CEO.

CEO Kang has held positions including Head of Seocho Branch at Korea Exchange Bank, Head of Sales Planning Department, Head of HR Department, Head of HR Headquarters, Corporate Business Head at Hana Bank, and Regional Head of Busan Sales Headquarters and Eastern Sales Headquarters.

Yungchang Savings Bank stated, "He is evaluated as the ideal leader who possesses excellent work skills and a sense of balance demonstrated through experience in sales, credit review, planning, and HR tasks, and is expected to greatly contribute to the leap forward of Yungchang Savings Bank."

◆ Acuon changes its CI

Acuon, which has Acuon Capital and Acuon Savings Bank as affiliates, announced that it has changed its CI.

The new CI features a symbol logo. The company explained that this logo is designed so that customers can more intuitively recognize the letter ‘a’, which represents Acuon's English name. Additionally, the corporate name in Korean and English letters used in the CI is clearly identifiable in digital environments such as mobile applications and online partnership channels.

This CI will be commonly applied to Acuon Capital and Acuon Savings Bank. The CI will be primarily applied in digital environments such as websites, apps, and partnership channels. The replacement of CI on offline materials such as employee and customer documents and branch signboards is scheduled to be completed in the second half of this year.

◆ KB Savings Bank continues COVID-19 support

KB Savings Bank is providing financial support to small business owners facing difficulties.

KB Savings Bank announced that it will apply preferential interest rates to self-employed applicants for new government-guaranteed loans until the end of June.

This is to offer some support to small business owners struggling due to the spread of COVID-19. The target products are government-supported low-income products, Hae-sal-loan and Sa-it-dol 2 loans, with interest rates reduced by 2 percentage points for Hae-sal-loan and up to 4 percentage points for Sa-it-dol 2.

The self-employed Hae-sal-loan is a loan guaranteed by regional credit guarantee foundations such as the Seoul Credit Guarantee Foundation, and the Sa-it-dol 2 loan is a guaranteed loan implemented by SGI Seoul Guarantee Insurance. These are representative policy financial products for small and medium-sized enterprises and small business owners with insufficient collateral.

The minimum interest rate for Hae-sal-loan is 5.53% per annum. Sa-it-dol 2 loans start from a minimum of 8.7%.

Both products can be applied for up to a maximum limit of 20 million KRW through the KB Good Banking mobile application.

Shin Hong-seop, CEO of KB Savings Bank, said, "We will provide all possible financial support to overcome COVID-19 as soon as possible."

◆ JT Chin-ae Savings Bank donates to single-mother families

JT Chin-ae Savings Bank donated funds to single-mother families struggling due to COVID-19.

The donation was delivered to Aeranwon, a facility for single and single-parent families. JT Chin-ae Savings Bank said it made the donation to provide some support to single-mother families facing economic and mental difficulties due to COVID-19.

The donation will be used as resources to overcome COVID-19 for 50 single-mother families affiliated with Aeranwon. It will support the purchase of supplies including masks, hand sanitizers, and thermometers.

Park Yoon-ho, CEO of JT Chin-ae Savings Bank, said, "Although it is a small sharing, we donated with the hope that it will help neighbors who are struggling due to the spread of COVID-19. We will continue to be a reliable financial institution for the common people that supports the local community and neighbors during difficult times."