Financial firm chiefs stress coexistence, innovations on dawn of new year

KB Financial Group Chairman Yang Jong-hee [NEWS1]

 
The heads of Korea’s economic holding firms vowed to fortify coexistence with modern society and force ahead with daring improvements in New Year’s addresses on Tuesday.
 
KB Fiscal Group Chairman Yang Jong-hee claimed KB will shift their company paradigm from cutthroat levels of competition to coexistence amid escalating wealth inequality.
 
“Scope of buyers need to be expanded to citizens and the whole culture,” Yang claimed in a assertion. “Traditional categorization of buyers is getting meaningless thanks to structural change of population brought about by very low beginning price and the aging [society].”
 
“The duty and the role of finance are developing additional vital as susceptible social teams broaden from wealth polarization,” he extra.
 

Shinhan Economic Team Chairman Jin Alright-dong [YONHAP]

 
Shinhan Financial Group Chairman Jin Ok-dong requested executives throughout Shinhan affiliates to establish a new regular for environmental, social and governance (ESG), digitization and globalization.  
 
“Consumer traits for the industry, technological innovation and finance are promptly changing by the minute,” Jin explained. “The foreseeable future can’t be confirmed if [we] insist on the current achievements measures.”
 
“It is time to make fundamental improvements and leap in on difficulties,” Jin stated, although vowing to coexist with culture.  
 

Hana Fiscal Team Chairman Ham Young-joo [NEWS1]

 
Hana Financial Group Chairman Ham Youthful-joo stressed cooperation throughout Hana affiliate marketers — and even rivals — amid a quickly transforming industry.  
 
“Cooperation is no for a longer time an possibility but a have to,” Ham claimed, noting the abrupt fall of Silicon Valley Financial institution, after the 16th most significant financial institution by belongings in the United States, in March 2023, and the takeover of Credit history Suisse by fellow financial investment financial institution UBS.  
 

Woori Economic Group Chairman Yim Jong-yong [YONHAP]

 
Woori Monetary Group Chairman Yim Jong-yong pressured the importance of making feasible achievements this calendar year although noting very last year’s weaker-than-envisioned earnings.
 
Yim vowed to size up the potential of the team in preparing for its entrance into the brokerage support, and to develop its non-banking portfolio. Unlike other significant money holding firms, such as KB, Shinhan and Hana, Woori does not operate a brokerage agency, a purpose for its heavy reliance on banking.
 
Yim has stressed the want for a brokerage affiliate in the group portfolio because his term began very last year.
 
Woori will also bolster synergy between its affiliate marketers in pursuit of new company prospects. It plans to strengthen its competitiveness in IT and digitization by preemptively responding to new technologies this kind of as generative AI and a central lender electronic currency, he included.
 

BY JIN MIN-JI [[email protected]]