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Woori Financial chief decides not to seek another term

Woori Financial Group Chairman Son Tae-seung has officially decided to wrap up his four-year term ending in March this year, and not to seek another term as group chief. “Today, I d like to say that I am also joining a generational shift movement that s been trending in the local financial industry,” Son said in an official statement released Wednesday. ....

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Banks stress solidarity through morale-boosting activities

Several major banks are underlining solidarity among employees by honoring high achievers, offering special lectures for rookies and leadership training sessions for newly-promoted team leaders. Shinhan Bank said it wants to encourage those who were distinguished on the sales frontline in 2022, during a company-wide event at Olympic Gymnastics Arena in Seoul last week. ....

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Yoon's market-driven policy backpedals

The government is bolstering efforts to lift regulations in the finance industry to achieve President Yoon Suk Yeol s vision of a market-driven economy. But at the same time, financial regulators are apparently ratcheting up efforts to bolster their influence on the management of banking groups, fueling skepticism over the government s commitment to serve the interests of financial firms. Concerns are rising over double standards in the Yoon administration s market-driven economic vision as financial authorities have been increasingly targeting bank CEOs at a time when their tenures are close to ending. ....

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Korean conglomerate executives boost ties with each other at CES

LAS VEGAS - Top executives and heirs of family-controlled Korean conglomerates took advantage of the 2023 Consumer Electronics Show (CES) to expand their personal networks and seek the new growth engines for their companies. Making their way through the crowds in the 230,000 square meters of exhibition space at the Las Vegas Convention Center, they did not just promote technologies and products of their own companies at the four-day tech show, but also paid visits to the various exhibition booths of other Korean firms. ....

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Financial officials visit CES to showcase vision for digital transformation

A group of ranking financial officials have flown to Las Vegas to attend the Consumer Electronics Show (CES) there amid the blurring boundaries between the finance and technology sectors. Shinhan Financial Group Chairman Cho Yong-byoung was the first to arrive in the U.S. for the four-day tech fair. He left Tuesday with the firm s executives and some other working-level officials in charge of digital-related tasks for the firm and its key affiliates. They included Kim Myung-hee, chief digital officer of the group, and Shinhan Bank Vice President Lim Soo-han. ....

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