[Asia Exclusive] "If We're Going to Do It, Do It Right"... Emphasizing Expertise and Professional Ethics Since Inauguration

Published 08 Jun.2020 10:30(KST)

Who is Shin Hyun-jun, President of the Credit Information Service?
Started public service in the finance department in 1991, known as a 'financial expert'

Shin Hyun-jun, President of the Credit Information Service, is being interviewed by Asia Economy. Photo by Moon Ho-nam munonam@

[Asia Economy Reporter Kim Min-young] Shin Hyun-joon, who was appointed as the head of the Credit Information Service in March last year, emphasized strong professional ethics and expertise to his staff right after taking office. This was to cultivate specialized personnel capable of playing a pivotal role in the rapidly changing data economy. Since childhood, his motto had been "If you're going to do it, do it properly." He wanted to instill this principle in his employees to help them develop their skills.

In fact, during his school days, he was what the youth today call an "insider." He excelled not only in the core subjects of Korean, English, and Math but also in music, art, and physical education. He was popular among teachers and classmates alike. He said, "I was not just a model student who studied well, but also good at sports like running, pull-ups, and long jump," adding, "After school, I used to teach math to my friends, which earned me their trust."

Though he has a metropolitan appearance and seems to have followed an elite path, he recalled, "My family faced hardships due to my father's business failure when I was young, and I suffered from constant coal gas poisoning."

Nevertheless, the support he received from those around him shaped the person he is today. Teachers who understood his situation helped him receive scholarships. From that time, he developed a strong sense of community?a desire to give back the kindness he had received from the world.

His decision to become a public servant was influenced by his military service experience. After graduating from Seoul National University’s Business Administration department and aiming to become a "sangsa man" (trading company employee), he served as a military policeman during his KATUSA service in 1987. Witnessing the harsh realities of South Korea ahead of the Seoul Olympics, he resolved, "I must become a public servant." He said, "I wanted to contribute to the country through public service," and "I believed in playing a role for the community rather than myself, and I have worked selflessly for over 30 years, including my military service, as a form of volunteering."

He entered public service by passing the 35th Administrative Examination in 1991. Starting with the International Tariff Division of the Ministry of Finance (now the Ministry of Economy and Finance), then serving as a director in the Banking System Division and Insurance Division of the Ministry of Finance and Economy, and later holding positions such as Director of Global Finance, Asset Management, Insurance, and Planning and Finance at the Financial Services Commission. He left public service after serving as the head of the Insurance Business Division at the Korea Post in early last year and became the 2nd President of the Credit Information Service in March of the same year.

While working in the Banking System Division in 2001, he oversaw corporate restructuring during the aftermath of the second foreign exchange crisis. He played a role in saving Hyundai Construction and Hyundai Merchant Marine and was responsible for the restructuring of Hynix.

He spent nine years and six months working overseas during his public service career. He went to the University of Missouri on a government scholarship to earn a Ph.D. in Economics and later worked at the World Bank and as Minister-Counselor at the Korean Mission to the OECD. Regarding his extensive global experience, Shin humbly said, "When I first joined the Ministry of Finance, there was no one good at English, so as a KATUSA veteran, I was utilized as an English resource."

During his public service, he realized his lack of financial knowledge and continuously studied, obtaining certifications such as the Chartered Financial Analyst (CFA) and the American Institute of Certified Public Accountants (AICPA).

The Credit Information Service is a nonprofit corporation with a semi-public nature. His goal is to enable the Credit Information Service to serve as a central hub in the data ecosystem as a data-concentrating institution. Shin said, "A culture is emerging within the organization where employees share a sense of pride and agreement on the development direction of the Credit Information Service and prepare in advance through job training and degree acquisition," adding, "Thanks to positive evaluations inside and outside the organization, an atmosphere has been created that attracts excellent talent."