Han Yong-gu, president of Shinhan Bank, emphasized that he would put customer value before anything else and strive to manage the financial soundness of vulnerable borrowers.
In his New Year’s message to employees on Jan. 2, President Han set a strategic goal for 2023 - the expansion of customer-centered value, sticking to the basics and a takeoff for a better future.
“Let's further develop customer-centered values and prepare for the future based on solid trust from customers and society,” President Han said.
In order to attain the strategic goal, Shinhan Bank should push for business management with customer value as the top priority, qualitative growth in the core areas of the financial industry and environmental, social and governance (ESG) management, President Han added.
“As the economy is expected to go through an economic slump, concerns are growing over the deterioration of soundness, centering on vulnerable borrowers, and the insolvency of small businesses and marginal companies across the entire financial domain,” Han said with respect to business management that puts customer value first.
“Shinhan Bank ought to tightly manage such soundness with analyses, but provide timely support measures to customers who need help.”
As for qualitative growth in the core areas of the financial industry, Han suggested strengthening marketing functions, customized counseling support and digital transformations as specific tasks.
“Financial stability holds the key to empowering a bank to survive and prosper and the bank’s performance must go through a legitimate process,” President Han explained.
“I ask for each business group’s efforts for Shihan Bank’s qualitative growth in core businesses such as retail banking, corporate banking, investment banking, and global banking.”
Putting ESG into practice was also emphasized. “Especially in a situation where the severity of climate change is rising around the world, now we need to focus more on the environmental part,” Han said.
“Let’s all contribute together to increase the value of customers and society through ESG such as expanding eco-friendly finance and fostering new and renewable energy and climate tech industries.”
Han also encouraged employees by citing an old Korean maxim which means pioneering a new path by overcoming difficulties.
“Let’s quickly respond to the crisis situation that threatens us and take on new challenges,” Han said. “I will take the lead and set an example.”
On Dec. 30, 2022, Han Yong-gu officially took office as new CEO of Shinhan Bank.
At the inauguration ceremony attended by about 200 executives and employees, CEO Han stressed that Shinhan should be reborn as a first-class company, emphasizing customer centeredness and digital innovation.
At the inauguration ceremony, President Han emphasized customer centeredness, the acceleration of digital innovation, qualitative growth, strengthening ESG management implementation and communications and a trust culture.
“Customer centeredness is a value that must be steadily pursued,” President Han said. “We must work harder to convey sincerity toward customers at all contact points. Let’s make Shinhan a proud bank that naturally attracts customers.”
“Shinhan Bank needs to speed up digital innovation and ultimately become an invisible bank,” Han continued. “We will expand connections with various companies and institutions as a Banking-as-a-Service (BaaS) company and realize finance that permeates customers’ daily lives.”
“We expect the Korean economy to go beyond an economic slowdown and enter a crisis situation in 2023,” Han said.
“Let’s have unwavering resilience even in the midst of a crisis by managing soundness through precise data analysis, protecting customer value through timely support and realizing qualitative growth.”
“Let’s fulfill our corporate social responsibilities through specific ESG practices,” Han said. “Let’s focus on coexistence with all stakeholders rather than seeking immediate profits. At the same time, we must raise Shinhan’s status to a leading ESG bank position.”
“Let’s establish a culture of communication and trust, accepting various opinions, and learning each other’s strengths,” President Han emphasized.
“I will put the field first, communicate directly with employees and customers, carefully listen to the opinions of customers and employees, and reflect them in Shinhan Bank’s policies and plans.”
