[New Year's Address] Oh Hwakyung, President of the Korea Federation of Savings Banks: "Promoting Institutional Reforms for Inclusive Finance"

2026 Byeongo Year New Year's Address

Oh Hwakyung, President of the Korea Federation of Savings Banks, announced plans to pursue institutional reforms next year to promote inclusive finance and productive finance for ordinary citizens.

Oh Hwakyung, President of the Korea Federation of Savings Banks. Korea Federation of Savings Banks

In his New Year's address on December 31, President Oh stated, "We will lay the foundation for future growth by expanding business channels and establishing development strategies for savings banks."

Looking back on the year, President Oh said, "The delinquency rate has stabilized at the 6% range for the first time in 1 year and 9 months, and we have achieved a turnaround to profitability, which has alleviated much of the market's concerns."

He added, "Next year, we expect that challenges will persist due to a contraction in the business environment caused by economic recession and strengthened regulations."

President Oh emphasized his commitment to supporting savings banks so that they can fulfill their role as leading institutions for small and inclusive finance.

He said, "We will support soundness management through project financing (PF) loans and non-performing loan (NPL) subsidiaries," and added, "We will also support policy initiatives such as expanding the scope of bad banks and the New Start Fund, as well as the stable introduction of the accountability structure."

He also mentioned efforts to ensure the stability of information technology (IT) systems and enhance competitiveness in digital finance.

President Oh said, "We will strengthen IT security by advancing information protection solutions and promoting the establishment of the next-generation Integrated Financial Information System (IFIS), while also enhancing digital finance competitiveness by improving non-face-to-face process functions."

He further emphasized, "We will strengthen consumer protection by implementing solutions to prevent hacking and non-face-to-face financial fraud."

President Oh expressed his hope that the savings bank industry will become a more trusted institution in the coming year.

He said, "Just as the saying 'Cheonchu Baekryeon' means that one becomes stronger through countless trials over a long period, I hope the savings bank industry will grow into a more robust and trusted financial institution."