Innovative Movement at KDB
Korea Development Bank holds rally to reform its daily work process at Yeouido, Seoul

The Korea Development Bank(KDB) held a rally to reform its daily work processes under the title of "Management Reform Resolution"attended by some 600 of its officers and staff at its head office in Yeouido, Seoul, July 8.
KDB Governor Yoo Ji-chang called on the participants to be always on alert as the KDB? status as a world-leading financial institution cannot afford to be loose for even a second, considering the environment surrounding the financial community at the present time."As we have resolved today, a KDB man should always be future-oriented, lead changes, creative, and morally upright and every one of us should try to be a KDB man we want to be at all times,"the top KDB man said.
Yoo continued that he will try to strengthen the capacity to reform the KDB's organization by operating diversified innovative programs including the reform promotion system already built. From the second half, the bank will open up systematic and continuous reform activities by promoting digging up new reform tasks and systems through already built reform promotion system as a base.
KDB set up in June the Management Reform Support Team in order to push strategic management reform as an independent unit. The bank also launched the Reform Committee and five Reform Subcommittees and introduced 'reform leaders'and reform guide system. The bank also opened a cyber business reform room to accommodate sharing reform information, reform study, debate and suggestions to complete the construction of an infrastructure for the promotion of systematic reform activities.
In the meantime, KDB said its basic reform plan is not a passive one only meant to show off, but the one that is performed in everyday business and shows its true nature as time goes by.
KDB's support to SMEs.
KDB extended its special support measure for small and medium firms, which was to expire in June to the end of this year. The bank has been allowing small and medium firm borrowers to extend their loans totaling 1.8 trillion won, which were due to be paid back from November last year to June this year, by a year within the authority of branch mangers and disburse a special fund amounting to 1.2 trillion won in addition, bringing total funds provided to SMEs to 3 trillion won by the end of this year.
Up until June 17, the bank supplied a total of 2.696,3 trillion won, bringing total overall funds provided to SMEs during the period to 3.726,1 trillion won, making a big contribution to resolving fund shortages for SMEs.
KDB's policies to support start-ups.
The bank plans to reform its policies to support venture capital firms in a move to expand the support policies, which were launched from February this year.
According to the improvement measures, start-up companies which have been two years since their start were entitled to borrow funds for plant equipment and R&D activities, but its been extended to three years with access to loans for plant facilities and operation funds. Those with five years in operation are entitled to borrow funds for R&D activities and investment funds. Those in early stages of operation were included in the list of those with access to those funds with the upper limit of 3 billion won, rising from 2 billion won per company.
The bank's improved support policies also made possible for start-up firms without sufficient collateral to borrow loans against their technologies. The maximum amount they can borrow on their technologies has been increased to 3 billion won from 2 billion won per company. They have been given access to operation funds to the maximum of 1 billion won per company from 500 million won.
The bank also took measures to cut the time required to process loans and those firms with recognized technologies have been made to apply loans at the bank's branches or to the technology evaluation loan deliberation committee for one-stop service. nw

KDB Governor Yoo Ji-chang at the Management Reform Resolution Rally on July 8.