Gwangju Bank and Mokpo Suhyup Sign Mutual Growth Agreement for Preferential Financial Services for Local Residents

On the 16th, Gwangju Bank and Mokpo Suhyup signed a mutual growth business agreement at the Mokpo Suhyup headquarters. Photo by Gwangju Bank

Gwangju Bank announced on the 18th that it has signed a mutual growth business agreement with Mokpo Suhyup.

The signing ceremony, held on the 16th at the Mokpo Suhyup headquarters, was attended by Ko Byungil, President of Gwangju Bank, Kim Cheongryong, President of Mokpo Suhyup, and other officials. This agreement was established to expand practical financial support for financially marginalized groups, including foreign workers, and to contribute to revitalizing the local economy. The main areas of cooperation include preferential financial services for foreign workers in the Mokpo area, as well as financial support for small business owners, fishermen, and other financially marginalized groups.

In particular, the two institutions plan to provide credit loans to foreign workers in the fishing industry (E-10 seafarer employment visa holders), thereby lowering the barriers to institutional finance and helping to create a more favorable environment for work in the region.

With this agreement, both institutions plan to further strengthen inclusive finance in the region by leveraging their respective capabilities and resources.

Ko Byungil, President of Gwangju Bank, stated, "This agreement is significant as a cooperative model for practicing regional mutual growth and inclusive finance," adding, "Gwangju Bank will continue to strive to ensure that all financially marginalized groups, including foreign workers, can access financial services without discrimination."