Gwangju Bank and Munhwa Credit Union Sign 'Co-Prosperity Development' Agreement to Revitalize Local Economy

Gwangju Bank and Munhwa Credit Union signed a business agreement for 'mutual development' to revitalize the local economy. Photo by Gwangju Bank

Gwangju Bank (President Ko Byungil) announced on the 28th that it has signed a 'Mutual Growth and Development' business agreement with Munhwa Credit Union (Chairman Ko Youngcheol) to revitalize the local economy.

The agreement, held at the Gwangju Bank headquarters, was arranged to seek financial support measures for small business owners and self-employed individuals, who are the backbone of the local economy amid challenging economic conditions, and to jointly respond to changes in the financial environment while exploring ways to boost the local economy.

The core areas of cooperation include: ▲ establishing financial support measures for small business owners and financially marginalized groups ▲ mutual cooperation on loan-related operations ▲ sharing techniques for credit screening, risk management, and customer management, among other various mutual growth strategies.

Both institutions plan to maintain a cooperative relationship by sharing financial techniques and business know-how, and will continue to seek ways to contribute to the revitalization of the local economy by jointly responding to local issues.

Ko Byungil, President of Gwangju Bank, stated, "This agreement will serve as an opportunity to inject new vitality into the local economy through cooperation between financial institutions," and added, "We will strive to grow together with the region based on mutual growth."