Eugene Securities participates in a consortium of Korea Small Business Bank, which is challenging the fourth Internet bank project.
Eugene Securities noted on the 11th that it has submitted a letter of intent to the Korea Small Business Bank consortium led by Korea Credit Data (KCD). Eugene Securities decided to engage in this consortium to create synergies in new business areas and secure competitiveness through collaboration with participating corporations. In the future, Eugene Securities plans to actively review the launch of financial products tailored for small businesses linked to the Internet bank and financial services closely connected to local WM centers.
With Eugene Securities' participation, a total of three financial companies have joined the Korea Small Business Bank consortium. This consortium is the one with the largest number of participants among those promoting the establishment of new Internet-specialized banks. In May and July of last year, Woori Bank and Woori Card each expressed their intention to join the Korea Small Business Bank consortium, respectively. ITCEN and other non-financial firms have also officially confirmed their participation.
Eugene Securities pointed to its credit assessment capability for small businesses as the biggest competitive advantage of the Korea Small Business Bank consortium. Korea Credit Data, which leads the consortium, provides financial services for small businesses. Korea Credit Data has provided specialized services for small businesses through its management service 'Cash Note' to 1.7 million small business operators nationwide.
Eugene Securities CEO Ko Kyung-mo said, "It is crucial to have a specialized bank for small businesses that serve as the foundation of the national economy," and added, "Based on active collaboration with consortium member corporations, Eugene Securities will contribute to creating a closely-knit financial investment environment for small businesses."