President Eun Seong-soo of the Korea Export and Import Bank (Eximbank) said he will try to find export-type new industries in the 4th Industrial Revolution and engage in market-friendly restructuring on the existing industries so the jobs will be maintained as before.
He said he sees a need to expand Eximbank’s role to create new jobs and upgrade the current ones, which are part of the core tasks of the government.
He also said the restructuring of the shipping industry depends on the results of consultations with financial authorities, lenders and economic impacts on the basis that the support would go to the surviving firms.
At a media briefing following his inaugural ceremony on Sept. 15 at the head office of the bank, he said state-owned financial institutions such as Eximbank should work together on financial restructuring of major industries like shipbuilding.
He also said SMEs and medium-sized business firms should have easier accesses to policy financing, which should be expanded to lower their threshold. We should turn the zero-sum game they are faced with into a “positives-sum one” so they can enter overseas markets with the support of financial authorities and financial institutions.
One of the tasks to be pursued is to build a growth base that is continuously sustainable after seeking an equilibrium in policy loans and risk management, the new Eximbank CEO said. Without the systematic management of risks, which are more diversified than ever, it is impossible to supply stable, continuously safe policy loans, he added.
Touching on his management philosophy, he said he will introduce an “open management” system, listening to the voices of the people. Second, he will introduce a “future-oriented” management system, like a farmer sowing his field. President Eun will make decisions similar to those made by financial institutions with the big picture in mind. He said “we will push them as strong as we can muster our strength.”
The Export and Import Bank of Korea(Eximbank) invited high-ranking government officials from 17 emerging countries to its EDCF Workshop held from Sept. 6-8 in Seoul on the occasion of the 30th anniversary of the launching of Economic Development Cooperation Fund(EDCF).
The event included a policy seminar on EDCF, a tour of industrial facilities in Korea and viewing cultural events, among diverse programs. On the first day of the event, the participating foreign government officials briefed the Korean business executives the economic development projects in emerging nations and information on the infrastructural construction projects in such countries as India,Vietnam, Kenya, Cambodia, Ethiopia, Bangladesh and Mongolia, among others.
At the EDCF policy seminar, Eximbank officials in charge of the EDCF explained the role and strategies for EDCF to finance the economic growth of the emerging nations and discussed economic cooperation with the foreign government officials participating in the EDCF event.
Professor Sung Keuk-jae of KyungHee University Graduate School for International Studies delivered a lecture on the experience and economic development of Korea and what they showed to illustrate the lessons learned from Korea’s economic progress. Vice President Chang Young-hoon of the Economic Cooperation Headquarters of Eximbank, said the workshop wanted to show its achievements and vision after three decades of its operation and strengthen its cooperation with emerging nations economic development projects. The 21st EDCF workshop this year celebrated its 30 years of operation since 1995 when it was first launched and so far played the hosts to 293 high-ranking government officials from 47 countries around the world.