Afinit said on the 21st that it has recruited Choi Gyuseong as chief international business officer (CIBO) to strengthen its global expansion. Afinit plans to expand its AI financial platform business model, proven in the Indian market, to overseas markets such as Southeast Asia to build a "second growth axis."
Choi, the CIBO, previously served as head of Afinit's India subsidiary and built the local business foundation. Going forward, Choi will oversee global strategy, entry into new markets, and the establishment of local organizations.
Choi led Afinit's India subsidiary for about three years starting in 2019. Choi strengthened operating systems between the local organization and headquarters and led business expansion. In particular, during the tenure, monthly revenue grew more than 100-fold, and the subsidiary reached break-even (BEP), establishing a stable, profitable structure.
Afinit operates the AI financial platform "True Balance" in India. The company surpassed 160 billion won in revenue in India last year.
Choi has continued to build global-market experience even after leaving Afinit. Choi has posted experience in four countries, including Singapore, Indonesia, and Argentina. Most recently, as vice president at Dabeeo, Choi directly established the Indonesia subsidiary and pursued global commercialization of satellite-imagery and AI-based solutions.
Afinit expects Choi's on-the-ground experience and overseas business know-how to play a major role in pioneering new markets. The company plans to apply the AI financial platform model that succeeded in India to local market conditions and step up its push into Southeast Asia, including Indonesia.
Lee Cheolwon, CEO of Afinit, said, "Based on success in India and global business expertise, we will lead Afinit's second phase of growth."