Lender promises continuous support to  small and medium-sized companies and start-ups


Korea Development Bank Financial Group chairman Kang Man-soo hosted conferences this week for about 350 company CEOs working in the industrial belts of Gwangju Metropolitan City and North Chungcheong Province.

The conferences were held at Hanam Industrial Complex in Gwangju on Tuesday and at Ochang Scientific Industrial Complex in Cheongwon, North Chungcheong Province, on Wednesday, according to KDB.

The fundamental structure of the Korean economy is fairly strong, said Kang in his speech during the conference, noting how the nation’s credit level was upgraded while the global economy is undergoing difficulties. 

“We should turn today’s risk into an opportunity. KDB will take the lead in supporting small and medium-sized companies,” said Kang.

Held to commemorate the recent upgrades of the nation’s credit ratings to AA levels by global credit rating agencies Moody’s and Fitch and also that of KDB’s BIS ratio which now stands shoulder-to-shoulder with HSBC, the conference was an opportunity for Kang to take a tour of KDB’s client companies and listen to their difficulties. KDB’s BIS ratio marked 15.86 percent last year and HSBC’s 14.1 percent.

The state-run policy bank invited not only its client companies but also non-clients to learn about and discuss the hardships in the field. Kang shared ideas with the CEOs, and promised to find immediate resolutions for certain problems or improve or renew systems to help solve the difficulties as soon as possible.

Participating CEOs showed interest in the substantial support that could be given by the bank to small and medium-sized companies such as the possibility of lowering loan interest rates, increasing joint industrial growth funds or expanding the credit loans.

After the conference, Kang visited two of its best clients ― Cams, an automotive parts supplier in Gwangju, and Nepes, IT parts and materials supplier in Cheongwon ― and promised to continue to provide the best services using its various financial products.

The financial products introduced by KDB to the CEOs include the KDB Pioneer Program designed to provide low-cost fast-track loans for small and medium-sized companies or start-ups.

Management Stabilizing Capital Loan is fit for companies suffering from temporary liquidity problems, and the Plant Site Loan is offered at a low interest of around 3 percent to those who plan to purchase factory sites.

KDB plans to hold more conferences at industrial complexes in Busan, Daegu and Seoul.

“KDB will pioneer the way to solve management difficulties of small and medium-sized companies that are suffering from the sluggish economy. We will also put in our best efforts to help revitalize the economy and create more jobs,” said Kang.

By Park Min-young  (claire@heraldcorp.com)