Ex-Citibank Korea chief joins Toss Bank as outside director

By Lee Min-hyung

Park Jin-hei, Toss Bank's new outside director

Park Jin-hei, former CEO of Citibank Korea, has been appointed as Toss Bank's outside director ahead of the mobile bank's much-anticipated market debut in September, the company said Monday.

According to the lender, Park started his two-year term on Friday after he was named one of the bank's five non-executive directors following its shareholders meeting.

Toss Bank spoke highly of Park's expertise in digital banking. While serving as president of Citibank Korea, Park stepped up investments in digital finance and internet banking. Park is also recognized for his strong leadership by driving mass restructuring of sales offices of Citibank Korea, while at the same time having decades of expertise in the banking industry, according to Toss Bank.

Park led Citibank Korea for six years from 2014 to 2020. He spent most of his career at the Korean branch of the global banking group after joining its Seoul branch back in 1984. He later took on a series of key posts there before leaving the company in October 2020. He also worked at Samsung Securities for about a year in 2000 as vice president of the securities firm's operational business division.

“We expect Toss Bank to be able to win more credibility from the market by appointing Park as our new outside director,” an official from Toss Bank said. “Toss Bank will keep establishing our longer-term vision by closely exchanging opinions with Park. We are also going to do the utmost to minimize internal and external risks.”

Park studied trade at Seoul National University and received a master's degree in economics at London School of Economics and Political Science. He played a crucial role over the past decades in helping Citigroup make successful inroads into the Korean market.

Earlier this year, Park was also included in a shortlist for Hana Financial Group's next chairman along with three other candidates, in recognition of his bold and strategic management style.