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| Park Sang-jin |
Naver Financial has named Naver CFO Park Sang-jin as its new CEO, replacing its scandal-ridden incumbent Choi In-hyuk, Monday.
The financial subsidiary of the country's largest portal said Park will strengthen the competitiveness of the firm's payment services, backed by financial innovation to help the underprivileged including small businesses, gain greater access to online services.
"We will strengthen cooperation with Naver to use its technology and service capabilities to bolster synergy with us, thereby establishing innovative business models to create new value in finance," Naver Financial said in a statement.
Park has been instrumental in the growth and global expansion of Naver, as illustrated by a substantial increase in foreign investments with the firm and a subsequent broadened scope of its businesses in recent years, the firm said. He has already been serving as an in-house director of the tech company's financial firm.
"His extensive experience in and knowledge of the financial sector is expected to serve us better. Park, whose role will be strengthened from being the current in-house director of Naver Financial to the head of the firm, will translate into successful partnerships with key market players in the financial sector," it added.
Park began his professional career in 1997 at Samsung SDS, an information technology subsidiary of Samsung Group.
He served as the head of Naver's management planning team in 1999, before being promoted to the head of the firm's financial planning in 2004.
He had served as a director in charge of financial planning from 2007 to 2016, before being appointed Naver CFO in February 2016.
Meanwhile, Choi will remain in the Naver Financial CEO position until March. He has come under fire due to the suicide of a Naver employee last May, in what many said was the direct result of workplace bullying under the willful neglect of Choi.
Choi left his position as Naver chief operating officer, but he has since maintained his CEO post at Naver Financial.
