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| Visit Kyu Bang, President of the Export-Import Bank of Korea (provided by the Export-Import Bank) © News 1 |
“This year is an important time to support economic growth by supporting the overcoming of the novel coronavirus infection (Corona 19) and establishing a bridgehead to retake exports of $600 billion.”
Chairman Bang on the 1st said, “It is difficult to optimize export conditions due to the reorganization of the global supply chain and the spread of protectionism,” in his New Year’s address in 2021.
“As an institution in charge of foreign policy financing, the Export-Import Bank should lead an epoch-making turnaround in exports and take the lead in the re-leap of the Korean economy.”
To this end, Mr. Bang said, △Globalization of K New Deal △Revival of the traditional order-taking industry △We will do our best to provide customized support for small and medium-sized export companies.
Along with this, he emphasized that it will accelerate the digital transformation, lead ESG (environmental, social, governance) management, and create a strong mercury with expertise and an open communication with mercury.
The following is the full text of Bang Jang’s 2021 New Year’s Address.
Dear Mercury Family,
New Year 2021 (辛丑年) The hopeful New Year has dawned. We wish you happiness and peace in the year of the white cow, a symbol of relaxation and peace.
Last year, the world went through harder times than ever in the unprecedented crisis of Corona 19.
It is predicted to be the No. 1 economic growth rate among OECD countries, but our economy has also failed to avoid negative growth.
Even in such a difficult situation, all of our employees at Mercury have worked together to achieve valuable results.
In order to protect our industry and businesses amid the Corona 19 crisis, we provided 58 trillion won of financial support for Corona 19 response, which is about twice the amount of support target of 30 trillion won, and provided a total of 73 trillion won of loan, far exceeding the target of 64 trillion won in 2020 loan support. I did it.
In the case of the EDCF loan project, it contributed significantly to support for quarantine in developing countries and to the expansion of K-Medical to the outside by providing an emergency medical loan of $470 million in response to the coronavirus.
In addition, the rehabilitation process of Seongdong Shipbuilding was ended in 10 years, and the Daeseon Shipbuilding M&A was also finalized with a main contract.
Through the revision of the Mercury Act, which was not unprovoked even in several attempts, the capital of the local subsidiary was increased by $250 million in 16 years, and the support for export growth funds for large companies was resumed after 9 years using the pre-consulting system of the Audit and Inspection Service. A financial support system for defense business was established in front of importing countries.
In addition, building a win-win platform for large and small and medium-sized companies worth KRW 1 trillion, supporting large-scale orders such as LNG plants, supporting the No. 1 market share in the rechargeable battery market, establishing an F/S support system for pioneering overseas markets, and creating a K-Bio Health Fund worth KRW 400 billion. , The first state-run bank to obtain international certification for anti-corruption management system, and the first domestic bank to issue negative interest rate euro bonds, etc.
Despite such crisis response, we prepared a blueprint for the future of Mercury, such as restructuring the loan portfolio, establishing a digital conversion strategy, reorganizing the credit process for separation of examinations, and expanding overseas networks through the time when all of our executives and employees contemplated the future of Mercury. .
We believe that all of these achievements are the result of the dedication of our executives and employees who are more united and gathered in times of crisis, and we express our great appreciation and applause for your hard work.
Dear Mercury Family,
At present, the global financial market is weakening awareness of the crisis due to the liquidity supply from central banks and anticipation for the Corona 19 vaccine.
However, the real economy is still difficult, and the road to overcome Corona 19 is still long.
Due to the reorganization of the global supply chain and the spread of protectionism, export conditions are also difficult to be optimistic about.
We don’t know when and when some unexpected variables will block our path in the journey this year’s mercury will go.
However, like the saying,’Lee Indongshim Giridangeum’, which says,’If two people unite their hearts, even if the sharpness is iron’, there is no difficulty that cannot be overcome if all of our Mercury family unite. We believe we can make this year the best year of mercury.
For this, I would like to give you a few recommendations.
First, let’s be the vanguard of recapture of $600 billion in exports. Whenever our economy is difficult, it is the export and overseas sectors that have played a supporting role.
Unfortunately, Korea’s exports peaked at $600 billion in 2018 and are on a downhill road for two consecutive years.
As an institution in charge of foreign policy financing, Mercury should lead a revolutionary turnaround in exports by concentrating all its capabilities and take the lead in making a new leap forward in the Korean economy.
To this end, let’s actively promote the globalization of K-New Deal.
With the Korean version of the New Deal policy announced by the government in July last year, the ecosystem of our economy is rapidly transforming into digital and green industries.
We, Mercury, also launched the’K-New Deal T/F’ in September, selected seven key industries, and announced a support strategy worth a total of 30 trillion won over five years.
In order to discover innovative growth engines, it is necessary to develop three-dimensional and multi-faceted measures to support the global advancement of the K-New Deal, such as developing new financial products and preemptively supporting the plan to convert the traditional industry to the New Deal.
Also, this year, let’s make the most of our mercury’s expertise so that the traditional order-taking industry can turn around.
The traditional order-taking industry is still struggling, but at the end of last year, large-scale shipbuilding orders and large-scale construction and plant orders have seen the light of hope.
Here, as a financial leader of Team Korea, let’s do our best to revive overseas orders by mobilizing all of our 45 years of financial support experience, capabilities, and overseas networks.
While actively utilizing the business development consulting and F/S system to secure candidate projects, and establishing a business development-financial support linkage system, such as participation in investment development-type projects through equity investment and fund utilization,
In order to meet various financial needs, in addition to export financing, we actively utilize EDCF to achieve a major reversal in the order-taking industry and continue the history of an export powerhouse. We, Mercury, should take the lead.
Next, let’s raise the hope of our economy with customized support for small and medium-sized export companies. In times of crisis, the difficulties of SMEs are the most serious.
Expanding support for SMEs by reflecting the characteristics of each industry, early discovering and supporting innovative promising small and medium-sized venture companies through small and medium-sized speed-up loans and support for early export companies, and supporting SMEs through customized support for each stage of growth such as technology development, production, and export. Let’s do our best to nurture it as a competitive small and medium-sized company, a unicorn company.
Second, let’s accelerate the digital transformation.
Last year, we, Mercury, took the first step toward digital transformation by establishing a’digital workplace’ and establishing a’digital transformation strategy’.
This year will be the’first year of mercury digitalization’ by establishing a dedicated digital finance organization, introducing an automatic screening system, and establishing a non-face-to-face online service.
In the future, we will improve access to policy finance and convenience through customized online consultation and online document simplification, and improve the base of policy finance services through the establishment of a data-based review infrastructure, the launch of digital export financial products, and the introduction of digital supply chain finance. Let’s strengthen it.
Third, let’s lead ESG management.
In recent years,’good management’ is required for win-win growth and happiness for future generations in all fields.
The government has also announced a vision to transition to a low-carbon economy and is pursuing a sustainable and inclusive growth strategy through the transition to a fair society.
We, Mercury, will also proactively promote ESG management by expanding eco-friendly finance, fulfilling social responsibilities, and practicing ethical management.
By establishing and implementing a management system for each stage of ESG, it internalizes ESG management in all areas of work such as credit, investment, procurement, and screening, and strengthens social responsibility such as support for the vulnerable, job creation, and protection of human rights, and was certified by international organizations last year. Let’s do our best to develop ISO 37001’Anti-corruption Management System’ further into a’Clean Bank’ trusted and loved by the people.
Fourth, let’s create professional’strong mercury’ and’open mercury’ that communicates.
The coronavirus has brought an untact society closer, but despite these changes, people’s expectations for mercury policy financing are growing.
In order to meet these expectations, it is necessary to transform into’strong mercury,’ where talented talents are proactively active, and’open mercury’, which communicates well.
The competitiveness of each member of mercury is the competitiveness of our mercury, and the competitiveness of mercury is the basis for our company to grow into a stronger company in the global market.
In order to accurately grasp the changes in the industrial revolution in the post-corona era and to cultivate professionals in line with the digital era, it is necessary to reinforce the organization of service organizations that can respond smoothly to financial demand by industry and respond to customer demand one-stop, and further expand overseas networks. I’ll do it.
In addition, let’s reinforce the’learning organization’ based on the overall global talent training program, and strive to strengthen the professional competencies of employees through in-depth training and digital training by industry.
Let’s create a’open mercury’ that creates a productive and healthy relationship through active communication and sharing not only within the organization but also with customer companies and related organizations despite changes in the environment of Untact.
Dear Mercury Family,
This year is a very important time to support economic growth by supporting the overcoming of the corona and establishing a bridgehead to recapture $600 billion in exports, while at the same time executing the future development tasks that have been contemplated internally and achieving results.
Anything doesn’t seem easy and they are challenging tasks.
However, our mercury has a’gene of challenge and overcoming’ that becomes stronger the more difficult it is.
Let’s work together with passion and strength, with the sincerity and sincerity of the cow.
Just as small dirt becomes a mountain, if all of our mercury family gather efforts and wisdom, our mercury will make a big leap forward in 2021.
We wish all of our employees and their families the health and happiness on the morning of the new year.
Thank you. Happy New Year.
January 1, 2021
Bank Manager Bang Moon-gyu
goodday