Shin Myung-hyuk Appointed as CEO of Woori Financial Savings Bank

[Asia Economy Reporter Kim Hyo-jin] Woori Financial Savings Bank announced on the 14th that it held an inauguration ceremony for its new CEO, Shin Myung-hyuk, on the 13th. The ceremony was conducted non-face-to-face through the company's internal video system to prevent the spread of COVID-19.

CEO Shin Myung-hyuk expressed his ambition to boldly shift the service strategy from offline-centered to digital-centered in order to secure the status of a top-tier savings bank.

CEO Shin emphasized, “The needs of financial consumers are becoming more diverse, and to be chosen by customers, we must have competitive customized digital services that consider individual characteristics.”

He then presented five management policies: ▲ strengthening sales capabilities and expanding market dominance through customer-centric management ▲ diversifying revenue structures to expand growth foundations ▲ digital innovation ▲ strengthening group synergy businesses ▲ fair evaluation and rational compensation.

In particular, he stressed the attitude of Yeongseonbanbo (領先半步), meaning to stay half a step ahead of others for new changes and innovation.

CEO Shin joined Woori Bank in 1992. Since then, he has been recognized as a financial expert with capabilities in both household and corporate finance, having served as head of Woori Bank Busan West/Kangdong Gangwon Sales Headquarters, executive director of Woori Bank Trust Pension/SME Group, deputy executive vice president of Woori Bank SME Group/WM Group, and executive vice president of Woori Bank Asset Management Group as well as vice president in charge of asset management at the holding company.

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