BNK Financial Group Holds Ontact Opening Ceremony... 'Byeonjeok Tonggu (變則通久)'

Kim Ji-wan, Chairman of BNK Financial Group (center), is holding the first-ever on-tact opening ceremony since the company's founding. (Photo by BNK Financial)

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Sharon] BNK Financial Group announced on the 6th that it held an all-tact opening ceremony due to the novel coronavirus infection (COVID-19).

The group connected 400 overseas branches of its affiliates online and conducted real-time interactive communication, and participated in the opening ceremony through supportive comments on its YouTube channel this year.

BNK Financial Group Chairman Kim Ji-wan emphasized the "transition to an investment-specialized financial company" for BNK's future growth in his New Year's address, stating, "The era of general commercial banking is over, and only by boldly transforming into a financial company specializing in investment can we guarantee the future of a 100-year financial group."

Additionally, he presented "Byeonjeok Tonggu (變則通久)," meaning "Change leads to communication and longevity," as this year's group management motto, saying, "All employees of the group should accept change and boldly challenge themselves to take a step forward toward the goal of becoming a 'Global Standard Financial Group.'"

Furthermore, to enhance management efficiency through concrete execution of plans and organizational restructuring, a reorganization was carried out. First, the CIB Center of the bank located in Seoul was elevated to a department to strengthen IB-related sales capabilities and continuously expand professional personnel.

The group plans to promote a "Metropolitan Area and Busan, Ulsan, Gyeongnam Regional Hub Strategy" centered on the bank, capital, and investment securities within the group to increase work synergy through group-level collaboration. Through savings banks, asset management, and venture investment, it plans to participate in alternative investment businesses, establish infrastructure project funds, and invest in venture capital closely tied to the Busan, Ulsan, Gyeongnam region.

In the digital sector, the newly established "BNK Digital Center" will strengthen internal R&D functions related to digital technologies and expand business models through collaboration and joint development of core technologies such as AI and big data with companies located in the metropolitan area.

Also, by establishing the "Pension/Trust Planning Department" within the holding company, the group plans to further strengthen synergies related to its pension/trust business.

Meanwhile, BNK is changing its business portfolio to expand revenue in non-bank and non-interest sectors in line with changes in the banking industry.

It is increasing investments in real estate alternative investment sectors such as BNK Tower in Yeouido, Seoul, and Gangnam Platinum Tower, and making various efforts to overcome the limitations of revenue generation mainly based on traditional banking by expanding equity investments in venture capital through BNK Venture Investment, acquired in 2019.