Construction Guarantee Association, Large-Scale Organizational Restructuring... Expansion of Financial Business

Park Young-bin, Chairman of the Construction Mutual Aid Association

The Construction Mutual Aid Association has recently completed a large-scale organizational restructuring and executive appointment process, and is now focusing on strengthening profitability.

According to the association on the 7th, Chairman Park Young-bin completed the largest organizational restructuring in the association's history within just two weeks of taking office, and finalized the management team, including the Executive Director and Head of the Financial Business Division.

The association stated, "As a construction finance institution, we carried out this organizational restructuring with three key directions: expanding the association's role, enhancing work efficiency and expertise, and improving asset management profitability."

A notable aspect of the restructuring is the establishment of the Financial Business Division, which oversees the association's financial operations, and the Financial Planning Headquarters, responsible for company-wide financial planning and management functions, along with the expansion and reorganization of the Asset Management Headquarters.

First, Kim Hong-dal, currently an outside director at KB Savings Bank, was appointed as the Head of the Financial Business Division. He has accumulated diverse financial experience through roles at the Bank of Korea, Korea Deposit Insurance Corporation, Executive Director at Woori Financial Group, Vice Chairman of OK Financial Group, and CEO of Moneta Asset Management Co., Ltd. For the position of Chief Financial Officer (CFO), responsible for company-wide financial and risk management, Hong Young-gil, former Head of Investment Banking at KTB Investment & Securities (Executive Director), was recruited.

There are also significant changes in internal executive appointments. Seo Kyung-min, a highly respected Head of Department who joined the association in 1993, was promoted to Executive Director. Additionally, for the first time in the association's 59-year history, two Heads of Department were appointed through an internal competitive recruitment process.

During the executive recruitment process, external experts with a high understanding of the association were appointed as interviewers, and evaluations were conducted under strict standards and fair procedures. As a result, one of the newly appointed Heads of Department was selected from Grade 2, a level typically assigned to team leaders, marking a groundbreaking appointment.

The association plans to actively utilize the recruitment system for team and division head positions in the future, implementing a competency-based personnel system that provides more opportunities to employees with capabilities and vision rather than seniority.

Newly appointed Chairman Park Young-bin said, "There has been unprecedented innovation in the organizational restructuring and executive appointment process immediately after my inauguration. This is only the first step toward the association's new leap forward, and through proactive changes and innovation efforts, we will strive to grow together with our members as the undisputed top construction finance institution in Korea."

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