IBK Industrial Bank, Nationwide Branch Managers Meeting Held

[Asia Economy Reporter Yoo Je-hoon] IBK Industrial Bank of Korea held the 'National Branch Managers Meeting' at the Chungju Training Center in Chungcheongbuk-do on the 22nd and shared the strategic directions and tasks for the second half of 2022, the bank announced on the 24th. Considering the resurgence of COVID-19, the meeting was conducted both on-site with limited staff attendance and simultaneously via real-time video conference.

Yoon Jong-won, President of IBK, stated, "The management conditions of small and medium-sized enterprises (SMEs) have become more difficult due to the triple crisis of high interest rates, high inflation, and high exchange rates following the COVID-19 crisis. This is a crucial time for IBK, as a policy bank." He urged, "The role of policy finance must evolve so that finance can support innovation in companies and industries and enhance the dynamism of the national economy."

President Yoon also set the strategic direction for the second half of the year as 'Crisis Response and Foundation Strengthening,' presenting key tasks including ▲supporting SMEs to overcome crises ▲strengthening the role of policy finance ▲and internalizing sound management. He emphasized, "We must alleviate the financial cost burden on SMEs and small business owners and increase financial inclusiveness to provide more support to companies facing greater difficulties." He added, "In preparation for industrial structural changes such as digitalization and low carbon, we must proactively support the business restructuring of SMEs and lead the market in areas where private finance alone is insufficient, such as startups and venture companies," highlighting the role of policy finance.

Furthermore, President Yoon said, "It is difficult to predict when the recent complex crisis situation will stabilize," and urged thorough risk management to continuously support SMEs.