Kwon Hyung-taek, Chairman of the Korea Technology Finance Corporation (KOTEC), stated on July 20, "I will do my best to ensure that the benefits of industrial transformation reach small and medium-sized enterprises (SMEs)."
During a meeting with reporters at the Korea Federation of Small and Medium Businesses in Yeouido, Seoul, Kwon assessed that major industries such as artificial intelligence (AI), semiconductors, and defense are undergoing rapid changes simultaneously.
He emphasized his commitment to fostering an environment similar to the early 2000s when many individuals left large corporations, banks, or government jobs to start their own businesses. "I will play a foundational role in creating that atmosphere again," he asserted.
Kwon also highlighted the need to ensure that recent economic achievements do not solely benefit large corporations. He noted, "Behind the impressive results of major companies like Samsung Electronics and SK Hynix, there are many struggling SMEs. Developing policies that assist these businesses is a key priority."
Regarding organizational management, Kwon stressed the importance of communication. He remarked, "It is an era where a leader cannot accomplish everything alone. I will actively communicate with employees and listen to diverse opinions through field engagement."
However, when asked about the possibility of merging with the Korea Credit Guarantee Fund, he stated, "I have heard discussions about it, but I am still in the stage of understanding the operations, so I am not prepared to take a position. This is a matter that should be concluded through close consultation between the government and relevant departments, considering the nation's future and industrial competitiveness."
Kwon was appointed as the new chairman of KOTEC on July 15, with a term lasting until July 14, 2029.
A financial and public service expert with experience in both private finance and public institutions, Kwon is recognized for his understanding of the economic policy direction of the Lee Jae-myung administration.
Born in 1968, he graduated from Daegu Youngjin High School and studied international economics at Seoul National University. He earned a master's degree in management information systems from the University of Michigan. His career includes roles at Woori Bank's Investment Banking Division, as a managing director at HSBC, head of investment management at C9 AMC, special advisor on economy, finance, and investment to the mayor of Incheon, vice president of Midan City Development, executive director of the Seoul Metropolitan Subway Corporation, CEO of the Gimpo Gold Line, and head of the Housing and Urban Guarantee Corporation (HUG). Recently, he served as an advisory member of the Economic Division of the National Planning Committee under the Lee Jae-myung administration.
* This article has been translated by AI.
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