The Export-Import Bank of Korea (Eximbank) announced that Hwang Ki-yeon, the Senior Executive Director, has been selected as the 23rd president of the bank. Hwang, an internal specialist, became a part of the bank in 1990.
He has since served in various important roles such as leading the service industry finance department, the human resources department, and the planning department. He also has a significant background in managing the department for Inter-Korean cooperation, a department anticipated to have increased importance during Lee Jae Myung's tenure.
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He has been in the role of executive director since 2023, with responsibilities including supervision of risk management, digital finance, development finance, and government-commissioned fund operations.
"He earned a bachelor's degree in Business Administration from Jeonbuk National University and a master's degree in Information Management from KAIST."
Officials at Eximbank praise Hwang for his admirable leadership abilities and effective communication skills.
Additionally, his extensive background in various banking functions, along with his understanding of the impact of artificial intelligence, is highly acknowledged. This is the first instance in the bank's history where two consecutive leaders have been chosen from within the organization.
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The position at this state-run policy bank has typically been occupied by senior officials from government agencies like the Ministry of Economy and Finance or the Financial Services Commission. Yoon Hee-sung, the first president of Eximbank to be appointed internally, finished his term on July 25 and resigned.
Following his departure, Ahn Jong-hyuk, the Deputy CEO, took over as the acting president.
Now that the three-month leadership vacancy has been filled, it is anticipated that executive-level positions, including vice president roles, will also be filled in the near future. The president appoints the leadership of the Eximbank based on the recommendation of the Minister of Economy and Finance.
The new president, appointed from within the organization, is expected to use his vast experience to actively promote trade cooperation between Korea and the US as well as support strategic high-tech industries through financial measures that help the overall economy.
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Furthermore, Export-Import Bank of Korea, announced that they are intending to create a fund of at least 200 billion won ($145 million) to aid small and medium-sized enterprises in their international expansion efforts. The policy lender plans to create the fund in the first six months of the upcoming year following approval from the finance minister. A decision will be made to choose an asset manager to oversee the fund.