Gwangju Bank Strengthens Commitment to Community-Based Management and Inclusive Finance Practices

Holding the Non-Face-to-Face Second Half Year Management Strategy Meeting

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Gwangju Bank (President Song Jongwook) held its second half management strategy meeting and reaffirmed its commitment to strengthened community-based management and inclusive finance.

According to Gwangju Bank on the 16th, this management strategy meeting was conducted non-face-to-face, with only a small number of essential personnel attending the meeting site in accordance with COVID-19 social distancing guidelines, and the meeting content was broadcast live to all branches.

An awards ceremony was held for branches and employees who achieved excellent performance in the first half of the year to boost morale, and a meaningful time was spent sharing sales know-how by presenting outstanding sales cases from each headquarters, including savings, strategic loans, credit cards, funds, bancassurance, and retirement pensions.

Following this, the first half of 2021 management performance and second half business plans were announced to share specific management policies and key promotion strategies.

In the second half, the bank plans to strengthen solid internal management by focusing on key promotion strategies such as ▲ community-based management and practicing inclusive finance ▲ securing basic strength through sales force enhancement ▲ proactive soundness management ▲ improving management efficiency ▲ securing future growth engines.

Song Jongwook, President of Gwangju Bank, said, “In response to the rapidly changing management environment in the second half, including tapering, interest rate hikes, and prolonged COVID-19, we have prepared proactive response strategies such as strengthening soundness management and reviewing asset portfolios. We must continue to change and innovate in line with structural changes in the financial market and changes in customers, who are the targets.” He added, “Although the era emphasizes untact culture and digital technology development, we must also focus on human touch technology that conveys customers’ emotions and warmth, as well as communication with local residents and customers. By practicing community-based management and inclusive finance, we will take a step closer to becoming a sustainable 100-year bank.”

Meanwhile, Gwangju Bank has focused on inclusive finance and productive finance based on ESG management philosophy in the first half of the year. In April, it established an ESG team and officially launched ESG management, and also created the ESG Promotion Committee, a specialized consultative body to efficiently and systematically implement it.

Following President Song’s management philosophy of “seeking value beyond profit” through “coexistence with the region and companionship with local residents,” the bank actively practices ESG management strategies.

It participates in solving problems in various fields such as the local economy, society, and culture, including the “Coal Phase-out and Green New Deal Agreement,” relay volunteer activities at Gwangju Stream, environmental love campaigns, and sales of inclusive financial products for self-employed, small business owners, and middle-to-low credit borrowers.

Recently, by issuing 100 billion KRW worth of won-denominated ESG bonds that received the highest ESG certification grade, the bank announced plans to use the raised funds for eco-friendly projects to promote green finance and to support local small and medium-sized enterprises and small business owners struggling due to COVID-19.

Also, as the first local bank to obtain full authorization for MyData, Gwangju Bank has devoted efforts to leading digital innovation, achieving the automation of 100 tasks through RPA (Robotic Process Automation), and simplifying work through the establishment of a BPR (Business Process Reengineering) system, thereby improving employee work efficiency while focusing on enhancing customer consultation quality.

To this end, it conducted a personnel exchange program with Toss, the first in the financial sector, sharing working methods and organizational culture of fintech companies. Going forward, it plans to continue various activities to promptly respond to changes in the digital financial environment, faithfully fulfilling its role in regional financial development as a local bank while fully committing to leading digital innovation.