Busan said on the 29th that it will appoint former BNK Capital Executive Vice President Gu Gyo-seong as the 12th chair of the Busan Credit Guarantee Foundation.
The city will hold a letter-of-appointment ceremony at City Hall's protocol room this afternoon.
Gu, the new chair, will oversee the Busan Credit Guarantee Foundation for two years starting on the 30th. He began as a general teller at Busan Bank in Feb. 1991 and worked in the financial sector for 35 years, rising to executive vice president of BNK Capital's corporate finance division.
Gu, the new chair, said, "We will timely supply guarantee products suited to Busan's characteristics to support the management stability of local small corporations and microbusiness owners and to revitalize commercial districts, and we will improve the screening system to manage risks preemptively."
Park Heong-joon, the Busan mayor, said, "Please play a major role as a reliable partner of the Busan economy by harmonizing your extensive on-site financial experience with the foundation's public mission."