Cho Yong-byoung, chairman of the Bankers Association, stated on the 31st, "The banking sector plans to systematically support vulnerable institutional sectors, including small businesses."
On the same day, Chairman Cho distributed a New Year’s address containing this content. He emphasized, "The banking sector must pursue healing, stability, and change throughout next year." He noted, "We must work to heal the livelihood economy ecosystem," adding, "The banking sector will support customized debt restructuring, low interest and long-term partitioning repayment for those who have closed their businesses, mutual guarantees and loans, and banking consulting from next year."
Additionally, Chairman Cho mentioned the importance of financial system stability. He said, "The most important role of banks is to maintain a stable financial system so that the public can continue their peaceful daily lives," adding, "Banks must strictly manage soundness and liquidity."
Chairman Cho stated, "In the context of the three major changes of population, climate, and technological environment, banks must first embrace change and achieve innovation to grow continuously." He specifically promised, "The accountability structure that will be formally introduced from next year will be actively supported by the Bankers Association so that it can be settled as a management philosophy of banks."
Chairman Cho conveyed New Year’s greetings, saying, "Even in difficult situations, if we respond calmly to the challenges we face with hope rather than pessimism, we can find new opportunities."