Chairman Hong Ky-ttack of KDB Financial Group in his New Year’s message at the group’s New Year’s ceremony said Korea Development Bank which is reborn with the merger of Korea Policy Finance Co. will take care of its duty in full in a daring manner as a risk taker in the financial areas where private financial firms are difficult to operate as a representative policy financial organization should.
In order to accomplish its given responsibilities in full, KDB will give daring financial support to SMEs and start-up companies and financing on technologies, among others, to spur the Creative Economy running and stand in lead the exploration of overseas financial markets taking advantage of PE, PF, and M&As. The bank will also lead the unification financial policies that can possibly work so that the bank would be an explorer of the unification finance.
The chairman also called on the employees of the newly merged KDB to be in one mind for making the newly merged bank to work as smoothly as it can. He said the new bank should be truly an integrated entity in practice and it can be done if the entire employees are united in one mind as in “Po-hap-dae-hwa” in Chinese word, meaning that with every one in one mind, can accomplish anything. It can only be done when no one talks about the difference between the two entities, but work united to make KDB a global financial entity, a joint project for all, he said.
KDB is newly born this year closing the 60 years of its operation and opening a new chapter this year as an integrated new bank to make a huge contribution to the nation’s unification and become a global financial leader, Hong said.
KDB should provide support to the new financial ecological areas that are created in the wake of the Creative Economy drive by the government and make itself truly a global financial entity while taking care of various financial matters that may be needed in the process for the unification of Korea.
This is the year for laying the foundation for the new KDB and at the same time to provide financial support for our economy to rejuvenate, a gold time indeed for Korea and no time cannot afford to be wasted for that matter, the chairman went on.
KDB should also help the financial industry to be an advanced on as long as the bank being a professional corporate financial entity by boosting their capacities for such key financial areas as investment banking and international finance.
KDB should also take over the workload that Korea Policy Finance Co. and execute them as creatively as it can and also provide support to the industrial reform in Korea taking advantage of its know-how accumulated over the years and the globalization of SMEs and medium-sized firms in particular.
KDB should also expand its contacts with the financial companies overseas to help networking with domestic financial institutions in such areas the exchange of manpower which would also facilitate domestic financial companies to expand the communication with them, Hong said.
The bank should also strengthen its risk management and stabilize its financial base to maintain the policy finance that it took over from Korea Policy Finance Co., especially the financial support to SMEs to expand their operational assets and reducing the concentration of credit on them to shake up their financial portfolios.
The bank should also strengthen the risk control of its affiliates based on the integrated financial analysis system that was put together last year with preemptive restructuring based on diverse financial market principles. On the risks from the financial support to start-ups and PE, among others, in the process of providing policy loans, objective check ups should be adopted to boost the quality of the risk management in those areas, the chairman said.
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