Hwang Seong-yeop, New CEO of Shinyoung Securities, "Will Enhance Market Dominance with Unique Trust Services"

[Asia Economy Reporter Minji Lee] “We will revitalize corporate culture and organizational culture to increase market dominance in the trust business.”

Hwang Seong-yeop, the newly appointed CEO of Shin Young Securities, stated in an email sent to company employees on the 21st that he plans to enhance product and channel competitiveness and lead high growth in the trust business.

CEO Hwang explained, “As the financial industry’s customer base shifts to the elderly generation and the transfer of wealth between generations is in full swing, we will introduce a financial service system centered on seniors,” adding, “We will pursue unparalleled trust services through comprehensive wealth management financial services encompassing both domestic and international markets, such as the ‘Shin Young Family Heritage Service.’”

The financial investment industry is facing a challenging competitive environment due to the overwhelming economies of scale of securities firms with large capital bases. Additionally, the novel coronavirus disease (COVID-19) is causing a crisis even greater than the global financial crisis. According to CEO Hwang, if the organization does not become innovative and practical and aims only to maintain the status quo, it will inevitably be eliminated from the market.

He continued, “We will establish a company-wide internal control system and actively manage investment proportions to ensure stable returns on equity,” emphasizing, “From the standpoint of connecting customers, shareholders, and employees, we will continue customer-centric management with a long-term perspective.”

Newly appointed CEO Hwang graduated from Seoul National University with a degree in Business Administration and earned a Master of Science in Finance (MSF) from the University of Illinois. He joined Shin Young Securities in 1987 and has served as Head of Asset Management Division, Head of Corporate Business Division, Head of IB Division, and Executive Vice President in charge of overall operations.