Digital expert to lead K bank

Choi Woo-hyung is slated to take office as the CEO of K bank from Jan. 1 in 2024. Courtesy of K bank

K bank's new CEO Choi Woo-hyung is slated to take his new post on Jan. 1, 2024, thereby starting his two-year term, the internet-only bank announced.

K bank said that Choi's nomination as the next CEO was unanimously approved at the bank's extraordinary shareholders' meeting held on Dec. 29 in Seoul, where 93.9 percent of the total shares' voting rights were represented.

Choi, who used to head the digital and IT division at BNK Financial Group, is said to be the right person to lead the digital bank's growth to the next stage. Choi is widely recognized as a digital finance specialist in the finance and IT sectors, as he built up his extensive experience in finance, strategy and IT at various domestic and global companies.

K bank explained that the new CEO has been at the forefront of financial innovation in the rapidly changing field of financial IT, with over 30 years of experience. Throughout his career, he has led the development of financial artificial intelligence, the financial sector's transition to the cloud regarding big data platforms, the introduction of robotic process automation, and building strong expertise in IT and finance using digital platforms.

Based on his insightful understanding and expertise in the business of digital finance, Choi is expected to lead financial innovation and further growth at K bank. His term is two years in duration, from Jan. 1, 2024, to Dec. 31, 2025.

"As the CEO leading the first internet-only bank in the country, I feel an immense responsibility, but at the same time, I have high expectations," CEO Choi said, expressing his anticipation as well as responsibility. "As K bank has high potential and growth possibilities, the bank's employees and myself together will strive to achieve the bank's second leap forward into the future," he stressed.

Born in 1966, Choi graduated from Seoul National University with a bachelor's degree in economics and a master's in business administration. Beginning his financial career at Hana Bank in 1992, Choi went on to accumulate successful innovative business accomplishments at various companies, including Samsung SDS, Accenture and IBM.