Duzon Bizon Becomes Second-Largest Shareholder of Jeju Bank Instead of Fourth Internet-Only Bank... To Launch ERP Banking

Duzon Bizon has become the second-largest shareholder of Jeju Bank by participating in its paid-in capital increase. Jeju Bank announced that it will use this opportunity to pursue an ERP (Enterprise Resource Planning) banking business.

On April 18, Jeju Bank held an extraordinary board meeting and approved a resolution for a third-party allotment paid-in capital increase, with Duzon Bizon as the target.

This paid-in capital increase is part of a strategic alliance to promote Jeju Bank's ERP banking business. All 5.6 million new shares issued this time, representing 14.99% of the total, were acquired by Duzon Bizon. The two companies have agreed to jointly promote the new ERP banking business.

The two companies plan to form a dedicated team with key personnel and accelerate business development with the goal of launching products and services in early next year.

Jeju Bank explained that this move was made swiftly to overcome its prolonged management crisis, especially as the recent local bank crisis has intensified. By accelerating this business initiative, the bank aims to establish itself as a specialized bank for small and medium-sized enterprises (SMEs) and small business owners by 2027.

ERP banking refers to embedded finance that integrates financial services into ERP systems, which are enterprise resource management programs. With the consent of companies seeking financial services, it enables timely, customized financial proposals based on real-time cash flow and transaction information tailored to each company's needs. Corporate financial transactions can also be conducted quickly via non-face-to-face channels without the need for separate document preparation.

A Jeju Bank representative stated, "We plan to focus on supporting local and mid-to-low credit SMEs that have been excluded from funding by utilizing the diverse corporate information in ERP. Ultimately, we aim to become a Sub-Bank for SMEs, filling financial blind spots and achieving inclusive finance through innovation, thereby fulfilling the fundamental role of finance."