November 13, 2024: The Industrial Bank of Korea System (IBKS) facilitated a momentous visit for their team members to Ant Group’s Singapore office. This visit was part of a strategic study trip aimed at enhancing their understanding of cutting-edge cyber security solutions which have revolutionized banking efficiency and performance across the globe.
Visit Overview
The Industrial Bank of Korea System, a cornerstone in supporting small and medium-sized enterprises since 1961, organized this insightful visit under the leadership of the Korea Monetary Commission. The bank consistently seeks to bolster its operations by learning from international benchmarks.
The Ant Group Experience
During their visit, the 51-member delegation from IBK System immersed themselves in an in-depth exploration of Ant Group’s acclaimed cybersecurity products and use cases. Ant Group, known for its pioneering role in digital financial services, showcased how their technologies empower banks and financial institutions to thrive in a digital-first environment.
Key Takeaways
Looking Ahead
This visit marks a pivotal step in IBK System’s ongoing efforts to lead in technological adoption and innovation. As they continue to explore global best practices, such partnerships and learning opportunities are vital for staying ahead in the rapidly evolving financial landscape.
IBK Systems extends its gratitude to Ant Group for this enriching experience and looks forward to potential collaborative ventures that will foster sustainable growth and success in the financial sector.
About Industrial Bank of Korea System
The Industrial Bank of Korea System is a state-owned bank located in Jung-gu, Seoul, South Korea. Founded under the Industrial Bank of Korea Act, it aims to support small and medium-sized enterprises (SMEs) and strengthen their economic position through an effective credit system.
About Ant Group
Ant Group originated from Alipay, launched in 2004 to build trust between online buyers and sellers. Today, it stands as a leading global open Internet platform. Driven by innovation, we empower partners to deliver inclusive digital financial services and enhance digital life for consumers and SMEs. By introducing new technologies, we support industry digital transformation and foster collaboration. Together with global partners, we enable seamless global payments and remittances for merchants and consumers.
About BlackStorm Consulting
BlackStorm Consulting is a trailblazing force in business consultancy, and stands at the forefront of empowering businesses across Southeast Asia, with a stronghold in Singapore, Malaysia, and Thailand. Our expertise lies in corporate strategy and market entry, closing strategic gaps that impede companies from reaching their full potential. We elevate businesses by applying a multi-faceted approach across three crucial layers: people, product, and process.
On November 7, 2024, the Korea Labor Force Development Institute for the Aged led an insightful visit to the National Library Board (NLB) of Singapore, showcasing their commitment to enhancing elderly welfare through international collaboration. The visit, part of a broader initiative to understand global best practices in elderly support, brought together experts and delegates from eight Korean provinces.
Exploring NLB’s Elderly Initiatives
The NLB, recognized for its inclusive community services, played host to the 37-member Korean delegation. The series of events aimed to highlight the NLB’s successful engagement programs tailored for the senior community, particularly those facilitated by the National Library Board.
Visit Highlights
The visit featured a rich agenda designed to foster learning and exchange of ideas:
Context and Purpose
This visit was organized against the backdrop of Korea's shifting demographics, with a decreasing production age population and a rapidly increasing elderly population. The Korea Labor Force Development Institute for the Aged is dedicated to creating job opportunities for the elderly and preparing them for reemployment, aligning closely with NLB’s mission to keep the elderly connected and active in society.
Key Takeaways and Future Prospects
About Korea Labor Force Development Institute for the Aged (KORDI)
KORDI is dedicated to creating and supporting job opportunities for senior citizens while conducting education, research, and studies to optimize the use of the senior workforce. Our efforts are aimed at ensuring that all citizens can lead active, fulfilling, and healthy lives as they age. By fostering employment opportunities for older adults, we seek to generate significant social value, strengthen community bonds, and promote economic inclusivity. Our comprehensive approach not only empowers the senior population but also enhances their contribution to society, enriching the lives of both individuals and communities.
About Ministry of Health and Welfare of South Korea
The Ministry of Health and Welfare (MOHW) is a crucial branch of the South Korean government, headquartered in Sejong City. It is responsible for overseeing the country’s healthcare and welfare systems, including public health policies, medical services, disease prevention, and social welfare programs. The ministry also addresses challenges related to aging populations, mental health, and public health emergencies. Through strategic planning and collaboration with local governments and private organizations, MOHW strives to improve the overall quality of life for South Koreans and foster a sustainable and inclusive society.
About National Library Board (NLB) of Singapore
The National Library Board (NLB) is a statutory board under the Ministry of Digital Development and Information in Singapore. It oversees the management and development of public libraries across the country, ensuring they serve as accessible hubs for knowledge, learning, and community engagement. The NLB plays a vital role in promoting literacy, lifelong learning, and digital inclusion by providing diverse resources, programs, and services tailored to the needs of Singapore's residents.
About BlackStorm Consulting
BlackStorm Consulting is a trailblazing force in business consultancy, and stands at the forefront of empowering businesses across Southeast Asia, with a stronghold in Singapore, Malaysia, and Thailand. Our expertise lies in corporate strategy and market entry, closing strategic gaps that impede companies from reaching their full potential. We elevate businesses by applying a multi-faceted approach across three crucial layers: people, product, and process.
On a recent collaborative visit, the Human Resource Development Korea (HRDK) delegation explored Singapore Polytechnic’s Business Innovation Centre (BIC), focusing on the institution's significant contributions to SMEs through the Human Resource Learning Journey (HRLJ) for Organization Transformation.
Engagement and Learning
The visit was highlighted by an in-depth sharing session about the HRLJ’s impact on Singapore’s SMEs. This initiative, run in collaboration with Singapore Polytechnic staff and students, offers a transformative platform for SMEs to enhance their human resource capabilities, aligning with contemporary challenges and opportunities.
Comprehensive Tour and Insights
The delegation also participated in a guided tour around Singapore Polytechnic, gaining firsthand experience of the facilities and learning environments that support this unique educational journey. This tour provided practical insights into how academic institutions can effectively contribute to industry through education and innovation.
Promoting HRLJ Course Offerings
In addition to the visit, HRDK took the opportunity to promote the HRLJ course offerings available at Singapore Polytechnic. These programs include:
These programs are essential for organizations aiming to navigate through the complexities of transformation and adapt to the evolving business landscape.
Key Takeaways and Future Directions
About Singapore Polytechnic’s Business Innovation Centre
Singapore Polytechnic Business Innovation Centre aims to be the preferred partner of enterprises in your business transformation journey, by providing solutions to innovate your business, enhance productivity, build international connections, and to develop human capital capabilities. The BIC services include diagnosing business capability gaps, designing business capability development solutions and deploying them and follow up with determining if the solution is effective.
About Human Resources Development Service of Korea
Human Resources Development Service of Korea is an agency under the Ministry of Employment and Labor of the Republic of Korea and carries out projects that support the development of human resources for companies and workers, such as lifelong ability development, national job competency standards, national qualification tests, foreign employment support, overseas employment and skilled technology support.
About BlackStorm Consulting
BlackStorm Consulting is a trailblazing force in business consultancy, and stands at the forefront of empowering businesses across Southeast Asia, with a stronghold in Singapore, Malaysia, and Thailand. Our expertise lies in corporate strategy and market entry, closing strategic gaps that impede companies from reaching their full potential. We elevate businesses by applying a multi-faceted approach across three crucial layers: people, product, and process.
