The city of Busan announced on the 29th that it will appoint Kyoo Sung Koo, former Vice President of BNK Capital, as the 12th Chairman of the Busan Credit Guarantee Foundation.
The appointment ceremony will take place at 2:30 p.m. on the 7th floor of City Hall’s protocol room on the same day. Chairman Koo will lead the Busan Credit Guarantee Foundation for two years starting from the 30th.
Chairman Koo is a financial expert with extensive hands-on experience in the private financial sector. He began his career at Busan Bank in 1991 and has accumulated 35 years of experience across banking, financial holding companies, and capital firms. Most recently, he served as Vice President of the Corporate Finance Division at BNK Capital.
The city of Busan highlighted the new chairman’s strengths as a private finance professional, including swift decision-making, crisis management experience, and a deep understanding of the financial market. The city expects these strengths to enhance the competitiveness of the foundation’s overall operations, such as advancing guarantee screening, strengthening the delinquency management system, and expanding cooperation with financial institutions. Chairman Koo was also deemed qualified at the personnel hearing held by the Busan Metropolitan Council on December 16.
Chairman Koo stated, “I will provide guarantee products tailored to Busan’s unique characteristics in a timely manner to help stabilize the management of local small businesses and small merchants. I will improve the screening system to proactively manage crises and achieve the foundation’s sustainable growth based on a healthy organizational culture.”
Busan Mayor Park Hyungjoon emphasized, “With the global economic slowdown and changing external conditions, local small merchants and self-employed individuals are facing increasing difficulties. I hope that the new chairman’s experience in the financial field will harmonize with the foundation’s public role and become a strong pillar for the Busan economy.”
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