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| NongHyup Financial Group Chief Digital Officer Nam Yeong-su presents the group's goals for digitization at a meeting in Seoul, Jan. 22. Courtesy of NongHyup Financial Group |
By Park Hyong-ki
NongHyup Financial Group will aim to hire 1,000 data scientists to develop a "total data platform" by 2020, the group said, Wednesday.
The platform will be accessible for use by all its subsidiaries so they can provide distinct services tailored to customers' needs, it added.
To this end, it will seek to build a center that will focus on researching and developing digital products and services with the group's strong pool of data scientists, engineers and bankers.
NongHyup Financial Group Chief Digital Officer Nam Yeong-su said in a Jan. 22 meeting that changes will have to be made to the organization prior to pursuing its future digital projects for the next generation of customers.
"I urge all units to push for digitization and innovation," Nam told his employees at the meeting.
This comes a day after NongHyup Financial Group Chairman Kim Gwang-soo held a strategic meeting, calling on everyone to transform for the digital age.
The chairman said NongHyup must "characteristically change" in order to find new growth opportunities.
He also said each business unit must work toward that end to achieve the group's annual profit target of 1.5 trillion won by the end of the year.
Change should lead all units to rediscover value centered on providing customized services through new growth business development, Kim added.
This should help boost human capital and management efficiency in the long run, the chairman said.
NongHyup Bank CEO Lee Dae-hoon said the commitment to digital transformation could make or break companies, adding NongHyup's sustainability will depend on this.
