Jin Ok-dong, center, chairman of Shinhan Financial Group, speaks during an event marking the group's 23rd anniversary at its headquarters in central Seoul, Sept. 2. Courtesy of Shinhan Financial Group

Shinhan Financial Group Chairman Jin Ok-dong has been appointed head of the financial industry committee of the Korea Chamber of Commerce and Industry (KCCI), according to the KCCI, Tuesday.

The committee is one of the 12 committees within the KCCI and was established to explore ways to advance the financial industry through interactions with government, industry and academia.

Previously, leaders from the securities, accounting and insurance sectors had served as chairmen of this committee. Jin became the first CEO from a financial group to take on this role. The KCCI said the committee's role is expected to be expanded further as a result.

Jin vowed to work to ensure that the committee contributes to the advancement of the financial industry and the stability of the financial markets through cooperation and communication with the authorities.

“I will facilitate various communication channels, such as sector-specific meetings, to respond quickly to market trends and policy changes,” Jin said.

“To enhance the added value and competitiveness of the domestic financial industry, it is essential to improve consumer value through utilization of innovative technologies such as generative artificial intelligence and cloud computing.”

He also highlighted that the financial sector's efforts to address social issues, such as protecting vulnerable groups, will not only build public trust but also contribute to the long-term development of the industry and capital markets.