Yoon Jong-won, CEO of Industrial Bank of Korea, Makes First Overseas Business Trip... Reviewing European Expansion Projects

Visited Poland as a Gateway to Eastern Europe... Listening to Challenges Faced by Local SMEs

The photo shows Yoon Jong-won, President of Industrial Bank of Korea, visiting Namyang Nexmo, an auto parts company located in the Katowice area of Poland, on the 24th of last month, listening to an explanation about the production process from a company official.

[Asia Economy Reporter Park Sun-mi] Yoon Jong-won, President of IBK Industrial Bank of Korea, achieved results by reviewing European business strategies and discussing cooperation plans for small and medium-sized enterprise (SME) financing with the Organisation for Economic Co-operation and Development (OECD) during his first overseas business trip since taking office.

According to IBK on the 3rd, President Yoon visited Poland, the United Kingdom, and France from the 23rd to the 30th of last month to review European business strategies. The first destination was Poland, planned as a foothold for expansion into Eastern Europe. Poland, emerging as a battery production hub, serves as a European production base where large companies such as LG Energy Solution and about 200 partner SMEs have jointly expanded.

President Yoon visited production sites of local companies to listen to management difficulties such as local currency loans, foreign exchange transactions, and fund transfers, stating, “We will consider solutions to SMEs’ difficulties, including the establishment of offices.”

Subsequently, in the UK, he visited Level39, known as the “cradle of fintech,” to exchange views on nurturing and supporting innovative and startup companies with technological capabilities. He also visited the London branch to discuss synergy plans with London for future expansion into Eastern Europe and reviewed overall global strategies.

Additionally, President Yoon visited the OECD headquarters in Paris, France, where he discussed ESG (environmental, social, and governance) management, carbon neutrality, green transition issues, SME financing support, and plans to expand personnel exchanges with the Deputy Secretary-General and the Director in charge of SMEs.

President Yoon said, “Through this trip, I had the opportunity to review European business strategies and discuss cooperation plans for SME financing with the OECD,” adding, “I also plan to participate in the activation of the ‘OECD SME Finance Knowledge Sharing Platform,’ launching this month, to strengthen continuous international cooperation with the OECD.”