Shinhan Savings Bank CEO Kim Young-pyo Holds 'Online Morning Tea Time' with Employees

Instead of Gatherings and Meetings Due to COVID-19,
Small Talks While Watching the Monitor,
Even Sending Coffee Coupons

Kim Young-pyo, CEO of Shinhan Savings Bank

[Asia Economy Reporter Kim Min-young] Kim Young-pyo, CEO of Shinhan Savings Bank (60), has made it a daily routine to stop by a coffee shop every morning before going to work. This is to purchase coffee for online tea time with employees. The online tea time was an idea initiated by CEO Kim. It was an alternative to overcome the lack of face-to-face meetings with employees due to the reduction of meetings and gatherings caused by the novel coronavirus infection (COVID-19). The tea time is conducted through computer cameras from each person's seat. Instead of having casual conversations while looking at faces on the monitor, they try to avoid discussing work as much as possible.

The employees sitting across from CEO Kim each hold a coffee in one hand. These were purchased using coupons sent by CEO Kim. He explained that it is a small gift for employees who might not want to sit in front of the monitor while feeling tired in the morning. He said, "Although we are in the same building, it is nice to see employees through the monitor whom I don't often see," and added, "After sharing laughter with employees, I feel energized throughout the day."

After the savings bank insolvency crisis, CEO Kim's communication efforts are credited with comforting employees who were immersed in a sense of defeat during the merger and acquisition (M&A) process and instilling pride in being part of Shinhan Financial Group. He encouraged 190 employees to demonstrate their capabilities.

As a result, Shinhan Savings Bank, which struggled with deficits for three years after its launch in 2012, turned a profit for the first time in 2015, right after CEO Kim took office. Since then, it has maintained growth for five consecutive years. Last year, it posted a net income of 23.1 billion KRW. Its soundness indicators are also excellent. As of the end of March, the non-performing loan ratio and delinquency rate were low at 3.5% and 2.9%, respectively.

CEO Kim is a seasoned "banker" who joined Shinhan Bank in 1987 and worked there for 28 years. He held key positions such as Head of Marketing Support Group, Head of Retail Division, and Head of Sales Promotion Group. Since moving to the savings bank as CEO, he is currently serving his fourth consecutive term. He is regarded as the "top expert in the retail sector" within Shinhan Financial Group.

Recently, Shinhan Savings Bank received an A credit rating for three consecutive years from credit rating agencies. Only four out of 79 savings banks received an A rating.

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