Crisis of Regional Disappearance Decreases, Local Economy Rises ... Serving as a Hub for Co-Prosperity
Economic Recovery, Financial Support to Ease Funding Difficulties for SMEs and Small Business Owners
As concerns about the potential disappearance of local regions grow due to prolonged economic stagnation caused by population decline and corporate departures, BNK Financial Group is stepping up as a driving force for mutual growth. The group aims to foster local industries and small- to medium-sized enterprises (SMEs), reinvest added value within the region, and lead the revitalization of the local economy.
On the 30th, BNK Financial Group held a meeting at its Busan headquarters, where Chairman Bindaein and representatives from group companies all attended to adopt the "Regional Co-Growth Declaration" aimed at revitalizing the local economy and ensuring the group's sustainable growth. (Fifth from the right, Chairman Bindaein of BNK Financial Group · Center)
On the 30th, BNK Financial Group adopted a "Regional Mutual Growth Declaration" at its Busan headquarters, with Chairman Bin Daein and all group company executives in attendance. The declaration aims at the economic resurgence of the region and the group's sustainable growth.
As a leading financial group representing the region, BNK Financial Group has set its management goal to support the recovery and growth of the local economy, thereby establishing a virtuous cycle that strengthens the foundation for the group's sustainable growth.
Through the declaration, BNK Financial Group has committed to: ▲ creating a financial ecosystem that leads the region’s new leap forward ▲ realizing a prosperous future for the region through convenient financial services ▲ sharing sustainable value creation with shareholders ▲ and building a trustworthy workplace with a sound corporate culture.
The group also plans to sequentially announce and implement key tasks for each stakeholder to put these commitments into practice. As a top priority, it will provide approximately 18.4 trillion KRW in financial support to help the local economy recover and ease the management burdens and foster the growth of SMEs and small business owners.
Busan Bank and Kyongnam Bank announced that they will provide 16.5 trillion KRW in special low-interest loans and special interest rate reductions to support the liquidity of SMEs and small business owners struggling due to the economic downturn in the Busan-Ulsan-Gyeongnam region, thereby reducing their financial costs.
In particular, to provide practical relief for small business owners facing concerns over debt repayment and interest burdens, the group will also operate debt adjustment programs such as loan maturity extensions and deferred installment repayments tailored to their repayment capabilities.
Additionally, to help revive the stagnant local economy, the group will jointly support the normalization of real estate projects, expand financial support for infrastructure development related to the Gadeok New Airport, and increase the issuance of refund guarantees (RG) for shipbuilding advance payments, thereby actively participating in fostering regionally specialized industries.
Furthermore, the group plans to establish a constant response system for swift disaster recovery support in the region, strengthen its corporate social responsibility (CSR) by developing local childcare systems and birth encouragement measures to address low birth rates.
Alongside these efforts, BNK Financial Group has designated proactive risk management for financial incidents and robust internal control systems as key tools for mutual growth. The group declared that all employees will work together to create an honest workplace and a prosperous local community, aiming to become a more trusted financial group for all stakeholders.
Chairman Bin Daein stated, "If BNK Financial Group takes another leap forward through mutual growth with the region, shareholder value will naturally increase. In a situation where it is difficult to ensure the group's sustainable growth without local economic recovery, mutual growth management can be a more fundamental policy for enhancing corporate value."
Going forward, the group plans to realize "Finance that inspires the world" by creating sustainable shared value that connects the group's intrinsic and external value, thereby achieving its 2030 mid- to long-term management vision for the financial group, benefiting the local community, customers, employees, and shareholders.
A BNK Financial Group representative stated that the group will ensure that tangible financial support is felt by the local community and that a culture of mutual growth is quickly established within the organization. Starting with this declaration ceremony, the group will continue to identify innovative tasks and practice finance that contributes to the region’s new leap forward.
On the 30th, BNK Financial Group adopted the 'Regional Co-Growth Declaration' at its Busan headquarters to revitalize the local economy and ensure the group's sustainable growth. (Fifth from the right, Chairman Bindaein of BNK Financial Group)
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