Lee Chan-woo, Chairman of NongHyup Financial, "I will lay the foundation for zero financial accidents"

“Innovation Through a Spirit of Challenge and Flexible Thinking”

Lee Chan-woo, Chairman of NongHyup Financial Group, emphasized to employees that “we must lay the foundation for zero financial accidents to become a trusted NongHyup Financial for our customers.” He also called for creating a new NongHyup Financial through a spirit of challenge and flexible thinking, driving change and innovation.

In his inaugural speech on the 4th, Chairman Lee stated, “A financial industry without customer trust is like a sandcastle, and NongHyup Financial cannot guarantee growth and sustainability without it.” He expressed his determination to reorganize the internal control system to be managed by systems for accident prevention and to inspect and manage internal controls to ensure their effectiveness.

He added, “While efficiently managing the accountability structure to be introduced this year, an organizational culture must be established where strict responsibility is held for financial accidents regardless of the amount involved.”

He noted that the internal and external management environment is unpredictable and that NongHyup Financial is at a ‘strategic inflection point’ where survival cannot be guaranteed without change. He further remarked, “When strong winds blow, instead of building walls, we need the wisdom of the Dutch who built windmills to harness the wind.”

Lee Chan-woo, Chairman of NongHyup Financial Group, is experiencing customer consultation on the 4th at the Yongsan Customer Happiness Center in Seoul. Photo by NongHyup Financial Group

He continued, “All affiliates must unite as one to create change and innovation, and since it has been 13 years since NongHyup Financial transitioned to a holding company, it is time to make a leap forward based on the remarkable achievements so far.”

He expressed his ambition to further solidify NongHyup Financial’s status as a specialized agricultural finance institution for the sustainable growth of agriculture and rural areas. Additionally, he emphasized strengthening capabilities to provide customized services tailored to customer types in response to low birth rates and aging, as well as enhancing hyper-personalized marketing capabilities by building a work environment utilizing generative AI (artificial intelligence).

Finally, Chairman Lee stated that all value in finance starts with customer trust, and innovation means redesigning all processes from the customer’s perspective. He added, “Let us all together create a new NongHyup Financial of change and innovation with pride in delivering hope to farmers based on customer trust and protecting agriculture, the life industry of the Republic of Korea.”

Meanwhile, without holding a separate inauguration ceremony, Chairman Lee visited the NongHyup Bank Customer Happiness Center to experience the consultation site and listen to employees’ difficulties. At a meeting with staff, he expressed gratitude for the hard work of employees who communicate with customers on the front lines and strive to ensure customer satisfaction.

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