The Export-Import Bank of Korea (Korea Eximbank) announced on the 29th that regular personnel reassignment and organizational restructuring were implemented as part of the organization’s commitment to better serve society and strengthen strategic partnerships with SMEs.

An official of Korea Eximbank commented, “In order to effectively address and alleviate the difficulties faced by export companies as a result of the global financial crisis and strengthen communication channels with Korean companies at home and abroad, we selected outstanding employees, and boldly appointed them in managerial positions.”

As part of the bank’s efforts to innovate its managerial organization, the bank appointed its first female Director General to the International Relations Office (Kyung Ja Kim, 48) and selected employees in their early 40s for director positions.

In addition, Korea Eximbank rejected the seniority system typical of public institutions and carried out large-scale promotions to boost morale.

The bank also reshuffled its organization to strengthen support systems for export SMEs and community outreach programs as part of its commitment as a policy financial institution.

The bank newly established the Win-Win Finance Team to be in charge of the Global PaSS Program* and further promote social and volunteer activities. The bank also expanded and reshuffled the Corporate Social Responsibility and Welfare Team.

* Global PaSS (Partnership in Overseas Business, Sustainable Growth with SMEs, and Seed) Program: a comprehensive support program for global coexistence and development providing financial support to exporting SMEs entering overseas markets with large corporations or supplying goods and services to such companies; PaSS also aims to strengthen support for underprivileged sectors such as multicultural families (refer to “Global PaSS Program Initiated for Marginalized Groups and Export SMEs” article published Dec. 12, 2011 for more information).

In light of the growing importance of corporate restructuring, the Corporate Restructuring Team, which used to be temporary and non-standing, was expanded and reorganized as a permanent team.

Korea Eximbank has plans for a more flexible foreign aid strategy by newly establishing the Multilateral Financing Team, which will facilitate strategic cooperative relationships with Multinational Development Banks (MDB).

Officials of Korea Eximbank stated, “Personnel shifts and organizational restructuring will strengthen both the utilization of human resources and our organizational capacity. It will also strengthen the social responsibility of Korea Eximbank as a policy bank.”