Regarding The Bukopin Family Planning Business Development, This Is What Kim Jong Un Said

JAKARTA - The position of Kookmin Bank as the majority shareholder is trying to be fully utilized by Bank KB Bukopin, especially in terms of future business development. One of them is network utilization in the Korean Link Business segment.

According to the Korean Link Business Division Head of Bank KB Bukopin, Kim Jong Un, the company since the first quarter of 2021 has activated the Korean Link Business program, and it has been proven to have a direct impact on the company's business growth in terms of raising funds.

"On December 31, 2021, the value of raising funds from the Korean Link Business reached Rp. 7.82 trillion, an increase of 395.8 percent from 2020, and the level of credit disbursement on December 31, 2021 reached Rp. 420 billion," concluded Kim Jong Un, in a statement in Jakarta, Tuesday, March 1.

On the same occasion, the President Director of Bank KB Bukopin, Chang Su Choi, stated that his party indeed took the initiative to develop the Korean Link Business business which focuses on the network of South Korean companies operating in Indonesia and also abroad. According to Chang Su CHoi, the expansion includes lending, raising funds, providing bank guarantee services, and trade finance facilities such as LC, SKBDN, and standby LC.

"The potential for developing this business is huge, because until 2020 there were more than 2,000 South Korean companies operating in Indonesia," said Chang Su Choi.

South Korean companies that are members of the Korean Link Business include Lotte Group, LG Electronics, Hyundai, Hankook Tire, and Lock & Lock. Of the more than 2,000 South Korean companies in Indonesia, as of the first quarter of 2022, it is estimated that there are around 51 South Korean companies that are members of KB Bukopin's Korean Link Business.

Of the dozens of companies, 44 of them have entrusted KB Bukopin as the bank that manages and collects funds for companies and employees. Then, 7 companies have used the services of KB Bukopin as a credit channeling bank to meet their business needs.

"KB Kookmin Bank, which is part of the Kookmin Bank Financial Group, is known for its reputation and experience in the global banking industry, earning the trust of customers," said Chang Su Choi.

KB Bukopin's management is also optimistic that it can increase the Korean Link Business segment because South Korean companies investing and expanding in Indonesia are increasingly attractive. Referring to data from the Investment Coordinating Board (BKPM), South Korea's investment value in 2021 will be 1.64 billion US dollars, which includes 2,511 projects.

"The support from all shareholders has a positive impact on the company's business plans and growth this year and the coming period," said Chang Su Choi.