Savings Bank President Park Jae-sik presented a blueprint to expand financial support for SMEs this year by supplying mid- and low-interest funds.
According to the Korea Savings Banks Association on the 4th, Chairman Park Jae-sik said through the ‘2021 New Year’s Address’, saying, “We will increase the handling of policy-based financial products such as Sunshine Loan, local credit guarantee foundations and savings bank special contribution guarantee products.”
Chairman Park Jae-sik did not forget to mention about digital transformation. It is a plan to expand digital financial infrastructure through business establishment of digital counters and business alliances with big tech and fintech companies.
It also works to ease regulations. He promised, “We will achieve stabilization of the management of savings banks through deregulation of savings banks through revision of savings bank laws and regulations.”
In addition, he said, “We will try to improve the reliability and image of savings banks by strengthening the protection of financial consumers, such as supporting the vulnerable digital finance class.”
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In addition, Chairman Park Jae-sik said, “It is unclear whether the economy will recover due to the continued impact of Corona 19 in the new year.” “The increase in financial demand for small and medium-sized business people and ordinary people, inclusive finance, and consumer protection are further strengthened, and the introduction of open banking, etc. “The digital competition caused by this will intensify further.”
He said, “It’s a new year that started with difficulties, but all the executives and employees ask for the effort with the attitude of’Kyoin-jong (堅忍至終)’ that endures and achieves the goal.”