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Special Interview
KB's Madam Moon Myoung-Soon Dedicates Life to Nation's Financially Vulnerable Folks
Nicknamed As "Financial Guardian of the Poor People"
"I was always concerned about ordinary people's use of our banking system," said middle-aged banking official, Madam Moon Myung-Soon in a recent interview with The Seoul Times. "Inequality in the use of banks between the poor and wealthy people must be redressed"

Madam Moon pointed out the importance of the needy and poor masses on how to use banks and other banking organizations in the nation whose economic size borders within the world's top 10 global economies.

She earned her nickname "Financial Guardian of the Poor People" through her long and arduous efforts to help nation's needy and poor folks from the local Korean news media.

"Millions of people in this affluent nation are still suffering from heavy debts or from other financial quagmire, Madam Moon said. "Concentration of the financial wealths in the hands of a few people need to be changed"

Some 3.2 million South Koreans are in debts in some forms or others and most needy and poor people are still in the dark, not knowing how to use nation's banking and financial institutions.

Nation's financial assets are concentrated in the hands of only 800 people whose wealths exceed 20 billion won respectively, according to Madam Moon.

"South Korean is now treated as one of the world's wealthiest nations, rising from the ashes of the tragic Korean War (1950-53), she went on. "But, there are still a number of people undergoing extreme financial difficulty or suffering from heavy debts"

"I just wanted to educate these people on how to use banks and other banking organizations and that's why I established 'Financial Study Institute for the Neddy People,'" she said.

Currently, Madam Moon is serving as the leader of the Consumers' Protection Department of South Korea's gigantic commercial Kookmin Bank (KB) on Yoido Island in Seoul.

Madam Moon seems more interested in helping financially vulnerable folks than her promotion as the banking official.

She entered KB (Kookmin Bank) in 1981 right after her graduation from Seoul Commercial Girls' Highschool, the nation's best school of its kind. She graduated there at the top of the entire school.

Earlier she graduated from Mapo Girls' Middle School in Seoul also at the top of her entire classes.

While working for KB she involved herself in the activities of its labor union. Soon she became union leader of South Korea's one of the largest banks.

For her role as the "Financial Guardian of the Poor People" she allied herself with representatives and leaders of nation's major banks' labor unions, visiting various places for her special lecture for them.

In 2005 she was elected as executive vice chairwoman of pan-national labor union alliance of nation's 32 major banks.

Madam Moon became the vice chairwoman of Korea Banking Institute's Council for Financial Experts Representatives. She was also appointed as director of Financial Economy Institute (FEI).

Based on her vast experience and expertise Madam Moon authored a high school text book on finance dubbed "Finance & Practice for Commercial High School Students. Many high schools in the nation are known to use her book in the classrooms.

In 2012 when the current President Moon Jae-In was running for presidential election Madam Moon was appointed as the chairwoman of Moon's Special Committee for Finance & Economy.

Madam Moon's personal ties with President Moon goes all the way back to 1980s when she met with then lawyer Moon Jae-In for their common goal of helping labors and workers.

Madam said that she would keep her busy role as the "Financial Guardian of the Poor People" even after her official as the banking official.

As long as my health allows me, I will not cease to perform my divine duty for the needy and poor people," Madam Moon said. "I will fight until the financial democratization is realized in my nation"




 

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