Shinhan Card President Lim Young-jin Secures Fourth Term... "Recognized for Performance and Digital Innovation Achievements"
Shinhan Financial Group Holds ESG Committee Meeting on 17th
Decides CEO Appointments for 14 Affiliates
[Asia Economy Reporter Ki Ha-young] Lim Young-jin, CEO of Shinhan Card, has succeeded in securing a fourth term. Despite the impact of the novel coronavirus disease (COVID-19), he is recognized for solidifying the industry's top position and successfully leading digital transformation.
On the 17th, Shinhan Financial Group held a Subsidiary Management Committee meeting to decide the terms of CEOs for 14 affiliates. Regarding CEO Lim, Shinhan Financial Group stated, "Despite the challenging business environment in the card industry, including fee reductions and market entry by big tech companies, he has firmly maintained the market share as the number one operator through stable management performance," and decided to extend his term for two more years.
Lim, who began his first term in 2017 and has been leading Shinhan Card for four years, will continue to hold the top position at Shinhan Card for the next two years following this reappointment. He was appointed CEO of Shinhan Card in March 2017, completing a '2+1' term and successfully securing an additional one-year extension last year. Although his tenure is shorter than that of former CEO Lee Jae-woo, who served for six years after being appointed in 2007 and renewing his term, Lim has established himself as a long-serving CEO of Shinhan Card.
Hot Picks Today
Taking Annual Leave and Adding "Strike" to Profiles, "It Feels Like Samsung Has Collapsed"... Unsettled Internal Atmosphere
- There Is a Distinct Age When Physical Abilities Decline Rapidly... From What Age Do Strength and Endurance Drop?
- "One Comment Could Lead to a Report": 86% of Elementary Teachers Feel Anxious; Half Consider Resignation or Career Change
- "After Vowing to Become No. 1 Globally, Sudden Policy Brake Puts Companies’ Massive Investments at Risk"
- On Teacher's Day, a Student's Gifted Cake Had to Be Cut into 32 Pieces... Why?
Lim's reappointment is analyzed to be influenced by stable performance and innovation such as digital transformation. Despite adverse internal and external conditions, including profitability deterioration due to merchant fee reductions, Lim succeeded in maintaining profitability. In the third quarter of this year, Shinhan Card recorded a cumulative net income of 470.2 billion KRW, maintaining its top industry position. This figure represents a 14.4% increase compared to the same period last year. Profitability was enhanced through diversification of the business portfolio, including installment finance, leasing, long-term rentals, brokerage fees, and expansion of new financial products. Additionally, the company is accelerating its entry into future core businesses such as MyData and MyPayment.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
