Park Jae-sik, President of the Korea Federation of Savings Banks, Joins 'Thanks Challenge'... "Stay Strong, Medical Staff"

Park Jae-sik, President of the Korea Federation of Savings Banks, and employees are participating in the '#ThanksToChallenge' to overcome COVID-19. Photo by Korea Federation of Savings Banks

[Asia Economy Reporter Kim Min-young] On the 2nd, Park Jae-sik, chairman of the Korea Federation of Savings Banks, along with executives and employees, participated in the ‘#ThanksToChallenge’ to express gratitude to medical staff dedicated to overcoming the novel coronavirus infection (COVID-19).

This campaign was initiated on the 25th of last month following the nomination by Kim Geun-soo, chairman of the Credit Information Association. Chairman Park, wishing for the end of COVID-19, nominated Kim Hak-soo, president of the Korea Financial Telecommunications & Clearings Institute, and Oh Hwa-kyung, CEO of Hana Savings Bank, as the next participants.

The ThanksToChallenge is a campaign started by the Central Disaster and Safety Countermeasure Headquarters on April 16 to encourage medical personnel working hard to overcome COVID-19. It involves expressing respect and gratitude to medical staff through sign language and nominating the next participant in a relay format.

Chairman Park Jae-sik said, “I am grateful to the medical staff who are devoted to overcoming COVID-19. The savings bank industry is also practicing social distancing and striving to quickly overcome the COVID-19 situation,” adding, “As savings banks are financial institutions for ordinary people, we will actively support self-employed individuals and others struggling due to COVID-19.”

So far, the industry has provided masks and quarantine supplies worth approximately 3.14 billion KRW to medical staff and vulnerable groups, and has extended financial support totaling 347.1 billion KRW through new loans, maturity extensions, and principal repayment deferrals to small business owners and individual entrepreneurs.