'First Internal Appointment at Su-eun' Yoon Hee-seong, an International Finance Expert with Extensive Foreign Currency Experience

[Asia Economy Reporter Song Hwajeong] "The next bank president must be someone who possesses expertise based on an understanding of the field and practical work, knows the Export-Import Bank better than anyone else, and has the ability to lead the organization stably. From this perspective, personnel from KEXIM have sufficient experience and capabilities in terms of expertise and organizational stability, so I am confident that they can fulfill the role of bank president more faithfully than anyone else."

This was stated in a declaration by the Export-Import Bank labor union before the appointment of the next president. Since so-called parachute appointments of presidents have occurred repeatedly, the union expressed concerns that another parachute appointment would be made this time as well.

Ultimately, the internal candidate that the union had long hoped for was appointed. President Yoon Hee-seong took office on the 27th. Since the establishment of KEXIM in 1976, this is the first time an internal candidate has been appointed as bank president. True to his internal background, President Yoon expressed affection for the company and its employees in his inaugural speech.

He said, "After spending over 33 years at KEXIM, I left this beloved place, but my heart has always been with our KEXIM family," adding, "When I recently heard the news that KEXIM received a presidential commendation for leading the highest-ever exports by small and medium-sized enterprises, I was very grateful and proud of the juniors who did their best despite the difficulties caused by COVID-19."

Appointed on the 26th, President Yoon started work the next day without major friction with the union. This contrasts with previous external presidents who faced union protests blocking their entry. Immediately after his appointment, he met with the union and received messages containing employees' expectations for the bank president.

President Yoon graduated from Seoul National University with a degree in economics and earned a master's degree in public administration from the same university. After joining the Export-Import Bank in 1988, he served as head of the Public Relations Office, head of the International Finance Department, head of the Capital Market Division, and later as head of the New Growth Finance Headquarters and Innovation Growth Finance Headquarters (vice president) before retiring early last year.

He is regarded as an expert with broad insight into international finance and a global perspective. He has experience in practical won and foreign currency procurement, trading, working at overseas branches in Singapore and London, and serving as head of the International Finance Department, covering all tasks related to foreign currency procurement. In 2011, as head of the foreign currency procurement team in the International Finance Department, he was the first in Asia to issue bonds in the local currency 'Riyal' in Saudi Arabia, raising $200 million. This pioneered a path to bring abundant oil money from Middle Eastern oil-producing countries into Korea.

It is known that President Yoon met President Yoon Seok-yeol while preparing for the civil service exam and judicial exam, respectively, at a study room. With President Yoon's appointment, the heads of all three policy banks are now graduates of Seoul National University's Department of Economics. Kang Seok-hoon, chairman of the Korea Development Bank, and Yoon Jong-won, president of the Industrial Bank of Korea, are also alumni of Seoul National University's Department of Economics. Additionally, Kim Ju-hyun, chairman of the Financial Services Commission, Lee Bok-hyun, governor of the Financial Supervisory Service, and Lee Chang-yong, governor of the Bank of Korea, all graduated from Seoul National University's Department of Economics. Former chairman Eun Sung-soo, who served as KEXIM president before becoming chairman of the Financial Services Commission, was a classmate of President Yoon at Seoul National University.

Considering the internal and external crisis situations, President Yoon immediately convened an internal Emergency Economic Comprehensive Countermeasures Team upon taking office to prepare and promptly implement support measures. He emphasized, "In a situation where our economy is facing a complex crisis, KEXIM must find breakthroughs to overcome the economic crisis and provide proactive and aggressive financial support."

He also plans to develop the nuclear power and defense sectors as the second strategic order-winning industries following traditional order-winning industries such as overseas construction, plants, and shipbuilding. President Yoon said, "With the implementation of carbon neutrality to respond to climate change and the energy and security issues triggered by the Ukraine crisis, demand for nuclear power and defense is increasing," adding, "We will strengthen policy financial support for new nuclear power orders and the restoration of the nuclear power ecosystem and work closely with the government and foreign governments to lead the expansion of defense exports."

Having earned strong trust from employees during his time at KEXIM, expectations for President Yoon are high. He is known to enjoy communicating openly with subordinates and has a non-authoritarian style that employees respected. He also likes drinking and often held informal gatherings with employees. Having handled many capital procurement tasks overseas, President Yoon frequently met with related foreign officials to explain Korea's economic situation and was known for his erudition and persuasive skills that helped close deals. He is also known to read extensively to build his knowledge. On holidays, he spends time hiking or visiting popular restaurants with his family.

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