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| Shinhan Bank executives raise their fists during a workshop at the lender's training center in Yongin, Gyeonggi Province, Oct. 19. / Courtesy of Shinhan Bank |
By Jhoo Dong-chan
Shinhan Bank CEO Wi Sung-ho is calling on executives and other senior employees to think outside the box and keep challenging themselves to cope with the prolonged economic downturn, the bank said Sunday.
The lender held a workshop for this year's fourth quarter at its training center in Yongin, Gyeonggi Province, Friday. About 230 Shinhan Bank executives, including Wi, participated in the quarterly event on the day.
Shinhan Bank said Wi and the bank executives reviewed the firm's achievement so far this year while discussing its business strategy for the fourth quarter.
Citing the example of Korea's national archery team, an undisputed world champion for decades despite continuous changes in Olympic game rules, Wi stressed the importance of relentless efforts to study future markets while maintaining the challenge to achieve its goals.
"Shinhan Bank has become the nation's leading bank thanks to the passion of its workers," Wi said during the workshop. "It's now time for Shinhan to embrace and accommodate the nation's rapidly changing commercial banking market to maintain its leading position."
He also introduced the bank's successful business cases during the speech. Of them, Wi highly praised the bank's integrated smart phone app, Shinhan SOL, for its convenience in improving not only customer experiences but also the bank employees' work efficiency. More than 7 million users have so far joined the app.
"Regardless of growing uncertainties in financial markets at home and abroad, Shinhan should continue its efforts in R&D to satisfy its customers," Wi said.
"Shinhan Bank will do its utmost until the end of the year to win solid achievements this year."
A Shinhan Bank official said Wi and the bank executives visited Hwaseong Fortress in Suwon, Gyeonggi Province, in the afternoon of the workshop day to learn how the fortress was built under King Jeongjo's leadership in the 18th century.
In February last year, Shinhan Financial Group named Wi as the bank's CEO. He has served various posts in the group, including CEO of Shinhan Card, before he was nominated to his current position.
Under Wi's term, Shinhan Card's net profit during the first nine months in 2016 recorded 532.6 billion won ($464.6 million), a 2.1 percent gain from a year earlier.
Wi also led Shinhan Bank's advance into overseas markets. The bank acquired ANZ Bank Vietnam's retail division shortly after Wi came to the post, and became the largest foreign bank in Vietnam with about 1,500 workers in 30 branches.
