[New Year's Address] Cho Yong-byeong, Shinhan Financial Group Chairman, "Proactive Crisis Response... Discovering New Growth Engines"

Shinhan Financial Group held its opening ceremony online on the 4th. At the ceremony, Chairman Cho Yong-byeong of Shinhan Financial Group delivered the New Year's address.

[Asia Economy Reporter Jo Gang-wook] Cho Yong-byeong, Chairman of Shinhan Financial Group, said on the 2nd, "We will quickly respond to risks through qualitative improvement of core businesses to discover new growth engines and crisis response measures tailored to the situation."

In his New Year's address that day, Chairman Cho introduced this year's group management slogan as "Strengthen the foundation! Accelerate the change!" and made the announcement.

He emphasized that a strong foundation requires robust basic strength first. Chairman Cho said, "Under the firm principle of 'Customer First,' we must fundamentally improve everything in the group and discover new growth engines through qualitative improvement of core businesses."

He also stated, "We must enhance the group's overall early risk detection capabilities and respond swiftly through crisis response measures tailored to each situation," adding, "Based on strong resilience, we must also carry out proactive challenges that take risks." His theory is that in an unpredictable era where complexity and uncertainty are increasing, the capability of 'Resilience' determines the survival and growth of companies.

Chairman Cho stressed the need to swiftly promote the 'Eco-system' and 'Sustainability' for change.

The eco-system refers to eco-friendly and innovative finance. He said, "In a situation where all industries are betting their lives on digital, Shinhan's fate will also be determined by Digital Transformation," and urged, "Based on the DT operation system established at the group level last year, everyone should unite and accelerate digital innovation."

In particular, Chairman Cho emphasized the importance of 'Human-talent' as the foundation for building a strong base and promoting rapid change.

He said, "What makes all this possible is ultimately 'people' and 'culture,'" adding, "We will devote great effort at the group level to nurture talent, as well as select talents who will lead the digital era and provide opportunities to demonstrate their abilities."

Finally, he mentioned 'Geun-go-ji-yeong (根固枝榮),' meaning a deeply rooted tree does not shake in the wind and bears beautiful flowers and abundant fruit, and 'Byeong-hyeong-sang-su (兵形象水),' meaning an army on the battlefield must move quickly and flexibly like water.

Chairman Cho emphasized, "Let us strengthen the basic strength of growth on the firm trust of customers and society, turn crises into opportunities, and change ourselves to lead the future of finance in line with the rapidly changing environment and heightened demands of the times."

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