As Chairman and President Yoon Hee-sung of the Export-Import Bank of Korea (KEXIM) took office, he promised to offer full support to help companies cope with uncertainties of the financial market.
While delivering his speech at his inauguration ceremony at KEXIM headquarters in Yeouido, Seoul, on July 27, KEXIM Chairman Yoon said, “Our KEXIM, a strong buttress of the Korean economy to overcome a crisis and make a leap forward whenever it occurs, now has to find solutions to overcome an economic crisis and offer financial support in a preemptive and proactive fashion.”
To this end, Chairman Yoon came up with a plan to work out support steps through KEXIM’s emergency economic, comprehensive measure team and immediately execute them.
“We’ll secure foreign exchange liquidity in a preemptive fashion to brace for rising uncertainties of the global financial market and back government policies with aggressive financial support,” he said.
Since SMEs are a backbone of the Korean economy and a driving force behind job creation, he said KEXIM will have to spearhead efforts to buttress weakening links in the industry and making new links such as SMEs’ participation in new industries.
Chairman Yoon stressed the need for KEXIM to make aggressive investments in industrial sectors emerging as eco-friendliness and other new growth engines.
“KEXIM will have to nurture new growth engines by being a step ahead in offering support to strategic future industries such as hydrogen and cope with climate change,” he said.
As energy and security issues emerge prominently in the wake of carbon neutrality and Russia’ invasion of Ukraine, he said that KEXIM will have to concentrate its capabilities so that nuclear power and defense industries can be made into second strategic winning order sectors.
Chairman Yoon emphasized faithful performing of its roles as the policy financing institution and building sustainable management foundation.
He expressed hope If KEXIM’s financial means related to diverse overseas policies undergo new convergence and innovation, it will create new markets and contribute greatly to promoting the economy, diplomacy and security.
He also stressed KEXIM’s finding and executing of solutions designed to raise its sustainability such as the public entity’s leading execution of carbon neutrality, performing social responsibility and transparent and ethics management.
Chairman and President Yoon Hee-sung convenes a meeting of a task force team to overcome multiples of crises with executives and department chiefs at KEXIM headquarters in Yeouido on July 28. (Photos: KEXIM)
Yoon is the first KEXIM chairman who has risen atop KEXIM’s hierarchy. Born in 1961, Chairman Yoon graduated from Seoul National University Economic Department and a master’s degree in public administration from SNU Graduate School.
Chairman Yoon, who entered KEXIM in 1988, held KEXIM’s major positions such as chief of public relations’ office, head of the international financing department and chief of the monetary market group and head of the innovative growth financing headquarters before retiring last year.