Kim Yunsik, Chairman of the National Credit Union Federation, "Securing Growth Momentum through IT System Advancement"

Opening Ceremony Held on the 2nd
Proposals for Improving Union Loan Soundness and More

The National Credit Union Federation of Korea (NACUFOK) held a kick-off ceremony for the new year at the Daejeon Credit Union Central Office.

At the ceremony on the 2nd, Kim Yoon-sik, President of NACUFOK, delivered a New Year's address reflecting on the achievements and challenges of the past year and presenting the vision and strategies for the new year. Before beginning his address, President Kim expressed condolences for the victims of the passenger plane disaster and offered comfort to the victims' families and the public.

President Kim stated, "Despite financial market instability and a difficult economic environment last year, we achieved meaningful results by maintaining asset growth through our best efforts to ensure the soundness and profitability of the unions." He added, "The Federation's credit and mutual aid businesses also recorded favorable results, strengthening the stability of the unions."

He continued, "All these achievements are thanks to the dedication of the executives and employees who fulfilled their responsibilities in their respective positions," expressing his gratitude.

As key tasks for the new year, he outlined improving the soundness of union loans, normalizing the revenue structure, discovering new businesses, and strengthening digital competitiveness. He emphasized, "Even amid the challenging environment of financial market instability and real estate market stagnation, we must actively seek new businesses to enhance the core competitiveness of the credit unions and create future revenue sources."

In particular, he announced, "We will actively promote the advancement of next-generation IT systems to secure competitiveness in the global digital financial environment and thereby create future growth engines for the credit unions."

He reminded the executives and employees that the credit unions benefit their members and local communities and urged cooperation and effort.