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| Shinhan Bank CEO Jin Ok-dong addresses executives in a meeting held to reaffirm plans for the latter half of the year, at the bank's training center in Yongin, Friday. / Courtesy of Shinhan Bank |
By Kim Bo-eun
Leaders of major banks pledged to boost performance for the latter half of the year at executive-level meetings held last week, amid an increasingly tough environment for the banking sector.
Shinhan Bank CEO Jin Ok-dong stressed customer-centeredness as the bank's core value at a strategy meeting with some 1,000 executives and managers at the bank's training center in Yongin, Friday.
"The key performance indicator (KPI) is what should drive the direction of banking and the 'key' in KPI should be customers," Jin said.
"We will increasingly reflect our customers in our assessment system."
The meeting addressed pending tasks such as dealing with the changes the industry is facing due to the Fourth Industrial Revolution, and adapting to the way the millennial generation works, according to the bank.
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| Woori Financial Group Chairman Sohn Tae-seung speaks at a conference held Friday to discuss plans for the latter half of the year at the Grand Hilton Seoul. / Courtesy of Woori Financial Group |
Meanwhile, Woori Financial Group also held a meeting Friday to outline plans for the second half of the year.
Some 380 executives attended the Woori Leaders Conference 2019, held at the Grand Hilton Seoul.
The group is aiming to make earnings from non-interest, non-banking sectors and overseas business account for 40 percent of the total earnings, Group Chairman Sohn Tae-seung said. Sohn is also the CEO of Woori Bank.
Woori launched its holding group in January and has been pushing forward with M&As to scale up its group by strengthening its non-banking division. The group acquired ABL Global Asset Management, Tongyang Asset Management and Kukje Asset Trust, a real estate management company.
"We expect a record performance in the first half of this year, and Woori's presence in the market has grown due to systematic efforts to build the group through various M&As," Sohn said.
The chairman also reaffirmed the tasks the group faces in the latter half ― to stabilize the group, expand its business portfolio, improve risk management and internal control and create synergy within the group.
Another key task is to boost the four pillars of growth ― wealth management, global business, corporate and investment banking and the digital division.
Earlier this month, KB Financial also held a workshop where executives shared key issues and plans for the latter half of the year.
Some 200 executives were present at the workshop that took place at KB Kookmin Bank's training center in Ilsan, July 5.
They shared cases of innovation within the group including its service incorporating biometrics to enable cash withdrawals, as well as the launch of its research chatbot which provides customized investment data.
As of the first quarter, Shinhan ranked No. 1, followed by KB, Woori and KEB Hana.
