AI Expert Choi Yongmin, Personally Praised by Chairman Lim Jongryong

Recruited After Establishment of AI Strategy Center
Over 15 Years of AI Expertise in the Financial Sector

Choi Yongmin, Head of AI Strategy Center, Woori Financial Group. Woori Financial Group.

Choi Yongmin, Head of the AI Strategy Center at Woori Financial Group, is drawing significant attention in the industry. Interest has intensified since Woori Financial Group Chairman Lim Jongryong personally introduced him as "talent recruited from outside" during a press conference on September 29. At the conference, Chairman Lim announced the 'Woori Financial Group Future Co-Growth Project' and unveiled a plan to invest 80 trillion won over the next five years, in line with the new government's financial policy direction of 'productive finance.'

After the event, Choi was undoubtedly the most sought-after figure. Reporters lined up to receive his business card as soon as the press conference ended. This was because Chairman Lim, when asked about AI network separation, handed the microphone to Choi, emphasizing that he was an externally recruited executive.

The financial sector has traditionally operated a strict network separation system, thoroughly dividing internal and external networks. While this is effective against security threats such as external hacking, it essentially blocks the use of external network-based technologies like OpenAI and generative AI. As a result, the financial sector has continuously called for regulatory easing, and the Financial Services Commission released a network separation improvement roadmap in 2024. However, practical regulatory barriers such as security reviews still remain.

Despite these limitations, Woori Financial Group has announced plans to actively pursue 'AX (AI Transformation)' to accelerate the realization of productive finance. Among the major plans revealed at this press conference, the 'AI-based management system overhaul' is considered a core initiative.

Chairman Lim explained that, starting last year, the company identified 190 areas out of 500 to 600 banking tasks where AI could be applied. Of these, five key areas-corporate lending, RM sales support, customer consultation innovation, internal control, and work automation-comprising 50 tasks, will be prioritized for implementation. The company aims to complete its AI transformation plan and business rollout by the end of the year, and to unveil its in-house developed AI-based system in the first half of next year. In the second half, it will announce targets for data refinement and system development. Choi is at the center of all these processes.

Choi recently joined Woori Financial Group as the head of the newly established 'AI Strategy Center.' Within the financial sector, his recruitment is seen as a clear demonstration of Chairman Lim's commitment to AI transformation (AX). AI transformation hinges on infrastructure investment and talent acquisition, and Chairman Lim is particularly focused on securing top talent.

Born in 1978, Choi graduated from a science high school and earned both a bachelor's degree in industrial engineering and a master's degree in software from KAIST. He then spent more than 15 years at Mirae Asset Global Investments, handling IT and AI-related work and earning broad recognition in the industry. Notably, he also has hands-on experience developing AI programs while overseeing AI-related projects.

An industry insider commented, "KB Financial Group and Mirae Asset Financial Group are considered the most active investors in AI. In this context, the creation of a new AI control tower and the recruitment of Choi by Woori Financial Group alone demonstrate a strong commitment to AI transformation."

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