[New Year's Message] Dongcheol Lee, President of KB Kookmin Card, "Innovation Needed Covering Core and New Businesses"

Customer Focus, Securing Digital Competitiveness, and Urging Business Structure Innovation

[Asia Economy Reporter Ki Ha-young] Lee Dong-chul, CEO of KB Kookmin Card, has called for comprehensive business innovation encompassing both core and new businesses.

In his New Year's address on the 2nd, Lee said, "The year 2020 is expected to continue facing difficult economic conditions such as low growth and low interest rates. Revolutionary changes in the way financial industry services are provided are anticipated due to groundbreaking advancements in science and technology, and the government's innovative and open financial policies will accelerate such transformations, necessitating comprehensive business innovation covering both core and new businesses."

To this end, Lee presented three management goals for this year: ▲ being faithful to the basics by focusing on customers ▲ possessing a solid differentiation in digital competitiveness ▲ continuously expanding new business areas for business structure innovation.

First, he said, "Focusing on customers is not merely a declarative term," adding, "To be faithful to the basics of focusing on customers, we must meticulously break down and analyze every thought and action in the process of customers using our services and persistently consider whether there are improvements to be made at each stage."

He continued, "Most startups' successes involve a so-called 'Decoupling' process that separates and improves the customer's value chain," urging, "Through deep understanding and relentless exploration of customers, we will cultivate new customer value unique to KB Kookmin Card."

Lee emphasized, "To differentiate digital competitiveness, it is necessary to continuously adopt new technologies and lead the market by reading trends from a fresh perspective," adding, "Internally, small innovations for digital transformation must be continuously promoted across all business areas."

Furthermore, KB Kookmin Card plans to continuously expand new business areas to innovate its business structure. It will increase overseas asset proportions by expanding its business line in Southeast Asia and also expand hyper-personalized marketing utilizing data capabilities. The company aims to diversify its service lineup by entering the MyData and Personal Financial Management (PFM) markets.

Quoting the four-character idiom "Bongsan Gaedo Usuga-gyo" (When meeting a mountain, open a path; when meeting water, build a bridge), Lee urged, "Even when facing numerous challenges and experiencing difficulties and failures, please become KB Kookmin Card that learns lessons from them and moves forward with greater strength."

This content was produced with the assistance of AI translation services.