[New Year's Address] Kim In, Chairman of the National Credit Union Federation of Korea: "We Will Strengthen Risk Management with a Focus on Soundness"

Strengthening Prevention of Financial Accidents
and Promoting Resolution of Non-Performing Loans

Kim In, Chairman of the National Credit Union Federation of Korea. Provided by the National Credit Union Federation of Korea

Kim In, Chairman of the National Credit Union Federation of Korea, announced on January 2 that he would "enhance the internal control system and the real-time inspection system to establish a robust risk management framework."

In his New Year's address on the same day, Chairman Kim stated, "We will closely monitor the management environment and actively support management improvement and rationalization tailored to the circumstances of each credit union."

He added, "We will strengthen our management foundation by resolving non-performing loans and developing a sound lending market focused on household loans, with an emphasis on asset soundness."

Chairman Kim also revealed plans to establish a new organization tentatively named the 'Future Growth Research Institute.' The plan is to expand and diversify the revenue structure by promoting affiliated business initiatives and expanding the scope of business through the credit union's subsidiaries.

He also emphasized the implementation of mutually beneficial management based on local communities and the expansion of inclusive finance.

Chairman Kim further announced plans for an artificial intelligence (AI) transformation. He explained, "We will gradually realize productive finance and social value by advancing region-specific financial services through the establishment of AI-based work environments and infrastructure."