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Busan Appoints Former BNK Capital Executive Koo Gyo-seong as Chairperson of Busan Credit Guarantee Foundation

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Busan Metropolitan City (Mayor Park Heong-joon) announced that it will appoint Koo Gyo-seong, former Vice President of BNK Capital, as the 12th Chairperson of the Busan Credit Guarantee Foundation.

The appointment ceremony will be held today (29) at 2:30 p.m. in the Protocol Office on the 7th floor of Busan City Hall. The newly appointed Chairperson, Koo Gyo-seong, will assume responsibility for leading the foundation for a two-year term starting tomorrow (30).

The new chairperson, Koo Gyo-seong, is a finance specialist who has built extensive hands-on experience across the financial market at private-sector financial institutions. This background is expected to make a significant contribution to further strengthening the role of the Busan Credit Guarantee Foundation, which supports local small merchants and small and medium-sized enterprises.

Koo began his career in the financial sector in February 1991 as a general clerk at Busan Bank. Over 35 years, he advanced to Vice President of the Corporate Finance Division at BNK Capital, building broad experience across the financial market, including banking, financial holding companies, and capital finance.

As a chairperson from the private financial sector, he is expected to bring strengths such as swift decision-making, crisis management experience, and deep insight into financial markets. These strengths are expected to greatly enhance the foundation’s overall competitiveness, including by advancing guarantee screening, strengthening systems for managing non-performing assets, and expanding cooperation with financial institutions.

Based on this experience, he has been regarded as the right person to lead the Busan Credit Guarantee Foundation, and he was also deemed “qualified” following a confirmation hearing at the Busan Metropolitan City Council on Dec. 16.

Koo stated, “I will provide guarantee products tailored to Busan’s characteristics in a timely manner to support business stability and revitalize commercial districts for local small businesses and small merchants. I will also improve the screening system to proactively manage risks, while fostering a healthy organizational culture within the institution to achieve the foundation’s sustainable development.”

Mayor Park said, “Due to the impacts of tariffs imposed amid U.S.–China trade tensions and the global economic slowdown, local small merchants and self-employed business owners, in particular, are facing significant difficulties.” He added, “I ask that the new chairperson make a major contribution as a steadfast partner for the Busan economy by skillfully balancing his extensive on-the-ground financial experience with the foundation’s public mission.”