IBK Industrial Bank President Yoon Jong-won expressed his ambition to devote all efforts to helping SMEs and small businesses overcome the Corona 19 crisis this year.
As part of this, the company plans to introduce a’financial physician’ program, which aggregates SMEs’ financial capabilities and enhances competitiveness with data and digital technology, to diagnose the status of business partners and provide prescriptions tailored to the situation.
“As a doctor diagnoses health”… Introduction of financial doctor system
On the 18th, the head of the Industrial Bank of Korea, Jong-won Yoon said, “We will focus on supporting SMEs and small businessmen overcoming the corona crisis this year. We plan to visualize the achievements of innovative management by expanding investment in venture capital.” .
Regarding the’financial physician’ program, Jong-won Yoon said, “It is like having a medical examination at a hospital and consulting a doctor based on the results.” It is explained that the purpose of the bank’s comprehensive analysis and diagnosis of the management and financial situation of individual companies is provided as a health checkup chart and customized support.
He added, “We will provide necessary information and proactively provide financial and non-financial consulting so that banks can help in all stages of the creation, growth and extinction of companies.”
In particular, he pointed out, “We plan to operate in a non-face-to-face mode as well as in the existing consultation process of the face-to-face method,” and “We will operate it so that automated company diagnosis and customized prescriptions are possible if we receive the consent of the consumer and enter the business registration number.”
“Digital transformation is a matter of survival…to nurture 1,000 core talents”
Jongwon Yoon also emphasized the importance of digital innovation. He said, “Amid the expansion of financial entry between Big Tech and Fintech and the my data business in earnest, digital transformation is not a matter of choice, but of survival,” he said. “It is not a matter of simple technology introduction and data application, but a’recreation of corporate culture’. We are aware of it and are pushing for digital transformation.”
In addition, he said, “Through the digital innovation committee presided over by the head of the bank, we will lead the digital transformation to become a natural IBK work method.” I was confident.
His plan is to promote digital transformation in key areas of banking, such as corporate review and consumer counseling in detail, and increase the big-tech-fintech alliance. In the case of my data service, it was decided to focus on providing’customized asset management service’ by reflecting the needs of SME CEOs and workers.
Chief Executive Jong-won Yoon also released a blueprint to cultivate 1,000 key digital talents by 2023. He said, “We will promote the internalization of digital competencies by supporting all employees to equip basic digital competencies,” he said. “We will newly establish IBK digital curriculum with leading universities in Korea, select outstanding talents in each field, and dispatch them from March.” .
“If SMEs collapse, the national economy and financial system will be damaged”
Chief Executive Jong-won Yoon also expressed the view that supporting small and medium-sized businesses is more important than anything else in a crisis like Corona 19. This is because the financial system and national economy will be greatly shocked if the SME base collapses.
Jong-won Yoon said, “Now we must provide effective funding for SMEs so that the current financial difficulties are not amplified by the credit crisis.” “We support the stabilization of the financial structure and business restructuring, while anxiety about the decline in credit ratings due to sluggish sales We will respond so that the factor does not act as a financial pressure on SMEs.”
In addition, the evaluation that the performance took a step back due to pending issues such as support for Corona 19, “Last year’s net income (1.547.9 billion won) decreased by 4.1% compared to the previous year, but considering the amount of provisions accumulated preemptively (346.4 billion won). “It’s generally good,” he dismissed.
“In the corona crisis, the supply of medium-term loans has been greatly increased, and the market share of medium-term loans has expanded to 23.1%, the highest level since its foundation.” He also revealed an expectation of “thing”.
“Expanding ESG investment and building eco-friendly work posture”
Chief Executive Jong-won Yoon showed his will to actively respond to ESG (environmental, social, governance) management, which has emerged as a hot topic in society.
He said, “IBK has been engaged in ESG-related activities in various fields such as job creation and fostering start-up companies, and recently established the’ESG Management Team’ to systematically approach,” he said. “We are replacing all newly introduced business vehicles with eco-friendly vehicles such as electric vehicles. “We will strengthen our efforts, such as expanding the use of electronic documents.”
At the same time, he declared, “When making a loan decision, we will reflect ESG in the evaluation and increase the proportion of investment in related assets. We will strengthen internal and external inspection systems such as the establishment of the ESG Committee and enhance management transparency.”
“Introduction of the recommended director system for workers is under consideration…Multiple candidates are proposed in March”
In addition, President Jong-won Yoon has put forward a position to appoint a person with professional competence in accordance with legal procedures in connection with the introduction of the’worker recommendation director system’, which is being reviewed at the bank level.
“Outside directors will be appointed according to current legal procedures such as the Small and Medium Business Bank Act,” said Mr. Yoon. “We are listening to opinions through various channels such as employees (union) in order to propose experts with excellent competence to contribute to the development of the bank.” said.
He added, “We plan to propose multiple candidates in March.”
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However, he said, “The appointment of an outside director depends on the candidate’s competency, and specific candidates are not automatically elected,” he said. “The worker recommendation director system and the labor director system are a matter of coexistence with expectations and concerns. It can only be promoted when accompanied,” he said.
In addition, the message was delivered to the union, saying, “It is important to establish a mature labor-management relationship that respects each other’s roles and constructively coordinates opinions,” and “I hope that it will become an exemplary case for opening a cooperative culture out of conflicting relationships.” I did.