Kang Sook-hee, Deputy General Manager at Gyeongnam Bank, Receives 'Minister of Trade, Industry and Energy Commendation' Award

Contribution to Export Promotion

[Asia Economy Yeongnam Reporting Headquarters, Reporter Song Jong-gu] BNK Gyeongnam Bank announced on the 1st that Deputy General Manager Kang Sook-hee, who works in the Foreign Exchange Business Department, received the ‘Minister of Trade, Industry and Energy Commendation’.

Deputy General Manager Kang was selected as a commendation recipient by the Minister of Trade, Industry and Energy, recommended by the Korea Trade Insurance Corporation for her contributions to export promotion.

Deputy General Manager Kang Sook-hee of BNK Gyeongnam Bank is posing for a commemorative photo holding the "Minister of Trade, Industry and Energy Commendation."

Kang, who is responsible for establishing and promoting foreign exchange marketing planning strategies, recognized that the use of letters of credit in export-import transactions has been continuously decreasing and believed that ‘activation of non-letter of credit export-import transactions’ was necessary to increase export-import performance.

In particular, she was interested in the export credit guarantee system of the Korea Trade Insurance Corporation, which can complement risks, and learned about the ‘Export Credit Guarantee (Comprehensive Purchase)’. In October last year, she established the ‘Export Credit Guarantee (Comprehensive Purchase) Operation Manual’ within BNK Gyeongnam Bank’s internal regulations.

The Export Credit Guarantee (Comprehensive Purchase) is a system in which the Korea Trade Insurance Corporation guarantees that small and medium (and mid-sized) export companies can convert export receivables into cash in advance at the bank after selling goods on credit to overseas clients. Unlike the previous system that required a separate guarantee for each buyer, this system allows the use of export credit guarantees with a single guarantee regardless of buyer distinction, enhancing customer convenience.

From the perspective of export companies, it can be used more simply and conveniently, and the bank can complement risks, so it is expected to contribute to increasing export performance in the future.

Based on this, BNK Gyeongnam Bank has selected its major foreign exchange business this year as ‘increasing export bill purchases and attracting new companies using export-import related institutions’ and plans to actively expand export-import marketing.

Deputy General Manager Kang said, “It is an honor to receive the Minister of Trade, Industry and Energy Commendation on behalf of all BNK Gyeongnam Bank employees. I will faithfully carry out my duties to contribute to export promotion and revitalize the local economy.”