SUNGKYUNKWAN UNIVERSITY (SKKU), SEOUL, KOREA
Yong Hwan Kim
Chairman of The Export-Import Bank of Korea
Class of 1977, Department of Economics
Since you have been appointed as the president of the Korea Exim (Export-Import) Bank last February, you have brought dramatic changes to the bank. What is your most significant achievement so far, and what are the goals of Korea Exim Bank?
Korea Exim Bank is a government funded banking institution that supports export, import, and overseas investment and resource developments by Korean companies. After I became the president, a comprehensive system has been setup to provide long-term financial support for overseas project and thus improve the competitiveness of Korean companies. A financial consulting department has also been established, and financial consulting and syndicated loans of 313 billion dollars has been provided as of last October. Mid-sized companies, which are going through a liquidity crisis, and shipbuilding and construction companies, that are having trouble because of financial crisis in Europe, will benefit from our new support system. My goal is to make Korea Exim Bank a key player in global financial projects and to reform our bank into an 'Innovative Export Credit Agency' that is capable of providing a complete range of financial services, including direct investment, mergers & acquisitions, financial consulting and syndicated loans, in addition to traditional Exim banking services such as loans and guarantees.
You are known as a promoter of investment in companies in emerging fields such as Korean cultural exports and renewable energy. Those fields are hot investments but have risks at the same time. What made you decide to invest in those fields?
Korea is a late-mover in solar energy and the water industry. But the European financial crisis can be Korea's chance to catch up on the front-runner European com-panies. Korea was a late mover in the shipbuilding industry too when we started, however intensive investment made it possible to make the Korean shipbuilding industry the world's number 1. The green energy industry will follow a similar path. The Korean culture industry is the future industry and is a high value-added business. Our job is to find small but promising companies and to develop them into the top 10 leading cultural export companies. The total investment amount will be 1 trillion won, until 2016.
You have much life experience, what do you want to tell the world's young people?
Do whatever you do with great pleasure, even if it comes with great difficulties. This is my kind of style: dream big. Whatever it is, if you decide to do it, go for it and catch your dream. Don't forget to enjoy the process while you walk toward your dream.
