KDB Chairman Stresses Beting Trailblazer of Unification Finance, Global Player

Delivering an address in a meeting commemorating consolidation between KDB Bank and the Korea Finance Corporation on Jan. 2, Hong Ky-ttack, chairman of the Korea Development Bank, said, “We will revitalize the creative economy by investing in small and medium companies and venture companies and supporting then with financing, and take the lead to enter overseas markets utilizing private equity, project financing, and M&As.”

Hong also announced that the bank will strengthen support in areas of high risk, including new technology and innovative industries, and achieve a money supply goal of 63 trillion won (US$57.04 billion) as scheduled, along with supporting the government’s three year plan to innovate the economy.

Moreover, it is planning to supervise high risk assets more strictly, the risks of which are added in the process of performing policy finance, such as venture and private equity, through objective verifications.

The bank also announced its plan to research a concrete and viable method of unification finance, as a pioneer of financially preparing for the reunification of both Koreas.

Hong said, “In the process of trailblazing unification finance while preparing for the unification of the Korean peninsula, the bank will develop as the advanced policy financial institution, a Global KDB.”

The Korea development bank consolidated with Korea Finance Corporation 5 years after the Lee Myung-bak administration decided to privatize the bank in October 2009.