Lee Chan-woo, Chairman of NongHyup Financial, "Strengthening Profitability for the Rebound of the Top 5 Financial Groups"
by Oh Kuemin
Published 04 Feb.2025 11:13(KST)
First Official Visit to Call Center After Inauguration
"Aiming for a Resurgence After Spin-Off"
Emphasizes Importance of System-Based Internal Control
Highlights NongHyup's Unique Characteristics
"Will Cooperate Closely with the Central Association"
Lee Chan-woo, Chairman of NongHyup Financial Group, visited the Customer Consultation Center as his first official schedule. He expressed his ambition to elevate the asset size and profitability to enable a resurgence as one of the top five financial holding companies (KB, Shinhan, Hana, Woori, NongHyup). He stated that he plans to overhaul the system to minimize financial accidents and secure synergy effects with the NongHyup Central Association based on NongHyup’s unique characteristics.
On the morning of the 4th at 10:30 AM, Chairman Lee met with reporters at the NongHyup Bank and Card Customer Happiness Center located in Yongsan, Seoul, saying, “It has been 13 years since NongHyup Financial Group was established in 2012.”
He mentioned his inauguration as chairman of NongHyup Financial Group the previous day and said he is currently assessing the overall situation of the holding company. He emphasized, “Although we are one of the top five financial holding companies, we aim to create an opportunity for resurgence by further increasing asset size and profitability.”
Lee Chan-hoo, Chairman of NongHyup Financial Group, is answering reporters' questions on the 4th at the NongHyup Bank and Card Customer Service Center in Yongsan, Seoul. Photo by Oh Gyu-min
원본보기 아이콘Regarding internal control, he said he is considering system improvements. Chairman Lee stated that not only the Financial Supervisory Service’s accountability structure but also “management through systems such as ICT systems is extremely important.” He added that through this, they will minimize financial accidents and secure customer trust.
Regarding the relationship with the NongHyup Central Association, which holds 100% of the shares of NongHyup Financial Group, he said, “There is a unique characteristic of NongHyup Financial focused on agriculture and rural finance.” He continued, “The perspectives from outside and the thoughts from inside can clearly differ, so expertise is necessary, but understanding agriculture well is also essential. If expertise and agricultural understanding are well coordinated with the Central Association, I believe the concerns can be resolved.”
Meanwhile, Chairman Lee encouraged employees by visiting the Customer Consultation Center that day. Explaining the reason for visiting the site, he said, “The customer center is the place where the financial holding company has the closest contact with customers,” adding, “It is the most important place to resolve difficulties or complaints experienced by customers and to restore the image and trust of NongHyup Financial Group.”
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