In the 48th Anniversary Commemorative Speech, Emphasis on Strengthening DFI and Financial Functions
Enhancing Government Policy Response Capabilities... Ensuring Smooth Progress of Supply Chain Stabilization Fund and Economic Diplomacy Support
"We must advance our operations by expanding complex financial services beyond loan and guarantee-centered tasks, fulfilling the functions of a Development Finance Institution (DFI), revitalizing investment activities, and strengthening treasury functions."
On the 1st, Yoon Hee-sung, President of the Export-Import Bank of Korea, emphasized this in his 48th anniversary address, noting that major countries' official export credit agencies (ECAs) are enhancing their roles and diversifying support methods through the introduction of new financial products and the establishment of subsidiaries to respond to rapidly changing external environments.
He stated, "As technological hegemony competition between countries intensifies and industrial paradigms shift, challenges that cannot be resolved by traditional export financing alone are increasing," adding, "Our goal is not to be a fast follower but a leader who drives the international financial market, setting a new milestone for the ECA model."
He also urged strengthening the government's policy response capabilities, recognizing that the importance of external policy finance is growing as each country's economic and industrial policies intertwine with diplomatic and security strategies.
President Yoon said, "Let us support the recovery of our economy's dynamism through meticulous analysis of government foreign and industrial policies and by enhancing operational alignment. By packaging the various financial instruments held by the bank, we will expand support scale and improve interest rate competitiveness to assist in securing overseas mega projects."
He further stated that the newly assigned tasks related to the Supply Chain Stabilization Fund and economic diplomacy support should be carried out without setbacks to achieve results.
He mentioned, "Let us respond swiftly to changes in policy finance demands by country and industry, becoming the vanguard that expands the economic territory of the Republic of Korea, making both the government and client companies keenly aware of the necessity of the bank's existence."
He also called for building an innovative and integrity-driven organization. President Yoon said, "As the AI revolution, exemplified by ChatGPT, continues, obtaining answers becomes easier if the questions are good. Let us question all the practices we have long taken for granted, including financial products, support conditions, work processes, organizational structure, and personnel systems."
He continued, "Cracks and catastrophes begin with complacency," emphasizing, "The moment we are perceived as an organization lacking integrity, no one will pay attention to the achievements we have worked hard to accomplish. Therefore, there will be no compromise or concession regarding issues of integrity."
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