[Weekly Savings Banks] Major Savings Bank CEOs Continue Reappointment Streak

SBI, Welcome, Hana, etc. Reappointed

Daewoong Kim, CEO of Welcome Savings Bank

[Asia Economy Reporter Kim Min-young] Major savings bank CEOs continued their streak of reappointments.

Kim Dae-woong, CEO of Welcome Savings Bank, succeeded in his reappointment.

According to the financial sector on the 15th, the Welcome Savings Bank Executive Candidate Recommendation Committee held a meeting on the 5th and decided to recommend CEO Kim as the candidate for the chief executive officer position.

An official from the recommendation committee stated, “CEO Kim is an expert in finance and economics with experience at various financial companies,” and added, “During his tenure as the bank’s general executive (standing director) and CEO, he solidified the bank’s position as a digital financial institution through the digitalization of banking services and led the bank’s development by expanding loan and deposit assets.”

They also said, “He demonstrated a high level of understanding of the savings bank’s operations and vision, as well as outstanding management and administrative capabilities, proving his qualifications as CEO.”

Born in 1965, CEO Kim graduated from Seoul National University with a degree in economics. He worked at Hanil Financial Lease and Welcome Crediline Loan before serving as a standing director at Welcome Savings Bank. He was appointed CEO on March 27, 2017.

During Kim’s term, Welcome Savings Bank posted net profits of 35 billion KRW in 2017, 63.2 billion KRW in 2018, and surpassed 100 billion KRW with 103.2 billion KRW last year. Assets also grew by more than 47.75%, from 2.0773 trillion KRW in 2017 to 3.0694 trillion KRW last year, ranking among the top in the industry.

Kim’s reappointment will be finalized at the shareholders’ meeting scheduled for the 30th. His term will last until March 2023.

Current CEOs Lim Jin-gu and Jung Jin-moon of SBI Savings Bank were reappointed for one year.

At the SBI Savings Bank recommendation committee meeting held on the 12th, CEO Lim was recommended as the next CEO candidate for the corporate finance division, and CEO Jung for the personal finance division. Their reappointments will be confirmed at the regular shareholders’ meeting on the 17th. The term is one year.

Born in 1964, CEO Lim graduated from Bryant University with a degree in business administration and earned a master’s degree in business administration from New York University. He joined LG Corporation in 1993 and later served as the head of the Hong Kong Oasis-Pacific Group private equity fund. After joining the former Hyundai Swiss Savings Bank (now SBI Savings Bank) in 2013, he served as executive director of the corporate finance (IB) division and has been CEO of SBI Savings Bank since October 2015.

Born in 1955, CEO Jung graduated from Korea University with a degree in economics. He worked at Samsung C&T Corporation, Samsung Card as managing director, and Hyundai Card as executive director. He was recruited as vice president of the retail division at this savings bank in 2014 and became CEO in March 2016.

All CEOs of financial holding company-affiliated savings banks whose terms expired succeeded in their reappointments. Previously, in December last year, Kim Young-pyo of Shinhan Savings Bank and Shin Hong-seop of KB Savings Bank were both reappointed for one year. On the 2nd, Oh Hwa-kyung of Hana Savings Bank was also recommended for reappointment.

Meanwhile, JT Chin-ae Savings Bank saw the departure of CEO Yoon Byung-mook, who served for eight years, and recommended Park Yoon-ho, standing auditor of the affiliated JT Savings Bank, as the new CEO.

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