IBK Industrial Bank appoints Kim Sung-tae, CEO of IBK Capital, as Executive Director

IBK Industrial Bank's Comprehensive Planning Head and Management Strategy Deputy Governor Recognized as a 'Strategy Expert'

[Asia Economy Reporter Kangwook Cho] IBK Industrial Bank announced on the 19th that it has appointed Kim Sung-tae, CEO of IBK Capital (photo), as the new Executive Director (Senior Deputy President).

Executive Director Kim joined IBK Industrial Bank in 1989 and worked there for about 30 years. Since February last year, he has been serving as the CEO of IBK Capital.

During his tenure at IBK Industrial Bank, Executive Director Kim held positions such as Head of the Comprehensive Planning Department, Head of the Busan-Ulsan Regional Headquarters, Head of the Gyeongdong Regional Headquarters, and Head of the Management Strategy Group (Deputy President). He is regarded as a leading 'strategist' responsible for the bank’s overall mid- to long-term strategy, establishment and evaluation of management goals.

In particular, while serving as Head of the Management Strategy Group, he demonstrated outstanding planning and execution skills, contributing to IBK Industrial Bank achieving its highest-ever net profit in 2018 (KRW 1.7643 trillion on a consolidated basis).

After taking office as CEO of IBK Capital last year, he led IBK Capital’s growth by increasing net profit by 20.2% compared to the previous year, achieving the highest profit since its establishment (KRW 108.4 billion), and building an asset structure capable of stable profit generation.

IBK Industrial Bank stated, "Considering his recognized work capabilities during his time at the bank and his achievements as a subsidiary CEO, he is evaluated as the right person to contribute to President Yoon Jong-won’s initiative of 'innovative finance and sound management for the leap to a global financial group.'"

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