President Jeong Sang-hyeok of Shinhan Bank stressed in his New Year's address that, "As we stand at an important crossroads that will determine Shinhan's future, we must accelerate agile responses to change and preparations for the future," emphasizing that the entire organization must prepare for what lies ahead.
In a New Year's address on the 2nd, Jeong said, "Uncertainty in the global economy and volatility in financial markets will continue to weigh on all aspects of bank management," adding, "The conditions are not easy, but we must make greater efforts than before to take the lead in expanding productive finance and inclusive finance necessary for the sustainable growth of our economy."
Regarding this year's business environment, he noted rising global economic uncertainty and financial market volatility, shifts in the financial paradigm driven by technological advances, and stronger ethical responsibilities for financial firms. Jeong said Shinhan Bank has set this year's strategic goal as "Finance for the future! Excellent execution! Change we create together!" and, in this environment, emphasized the importance of expanding productive finance and inclusive finance, providing differentiated financial experiences, and preparing for the future at the enterprise level.
Jeong said, "To stay ahead in new competition, we must proactively and thoroughly prepare innovative solutions such as digital assets, P2P, and platforms," adding, "Effective AX initiatives are also important for executing future innovation tasks."
He also unveiled plans for new core customer groups to secure future competitiveness. Jeong emphasized, "We must provide specialized solutions and secure an early lead in new markets such as seniors and foreigners, who are emerging as core customer segments due to demographic changes," adding, "We should also accelerate channel innovation, including AI branches, to use resources efficiently and strengthen sales capabilities."
He also underscored the importance of fulfilling finance's fundamental role. Jeong said, "We must respond proactively so that a virtuous cycle in the economy is achieved through active financial support for the productive institutional sector," adding, "As a reliable financial partner in everyday life, we should provide customized financial solutions that customers can access conveniently whenever they want."
On the importance of internal controls, he reiterated, "Since the accountability map was implemented, we have worked hard to establish a dense internal control framework, and we must ensure that internal control takes firm root as a routine business culture," adding, "We must further strengthen preventive systems that stop accidents before they occur so we can protect consumers' asset."