Savings Bank Federation of Korea Chairman Oh Hwa-kyung said in a New Year's address on the 31st, "We will support soundness management through subsidiaries handling project financing (PF) loans and nonperforming loans (NPL), and support the stable introduction of accountability structures and responses to policy tasks such as expanding the scope of the bad bank and the New Start Fund."
Oh said, "We will strengthen IT security through efforts such as building the next-generation Integrated Financial Information System (IFIS) and upgrading information protection solutions, and secure competitiveness in digital finance by improving non-face-to-face process functions."
Oh also explained, "We will strengthen consumer protection by building solutions to enhance prevention of hacking and non-face-to-face financial fraud, and work to improve the image of savings banks by reinforcing financial education and social contribution activities for financially vulnerable groups."
She added, "We will push for institutional improvements to invigorate inclusive finance for ordinary people and productive finance, and establish a foundation for future growth by expanding sales channels and preparing development strategies for savings banks."