Son Byunghwan, Chairman of NongHyup Financial Group, "DT Will Be Rooted as Organizational Culture Across All Affiliates"

Chairman Son Begins Communication Management with Digital Transformation as Key Topic at First Affiliate Forum After Inauguration

Son Byung-hwan, Chairman of NongHyup Financial Group, is presiding over the meeting at the 'NongHyup Financial DT Insight Forum' held on the 26th in the conference room of NH NongHyup Financial Group headquarters located in Jung-gu, Seoul.

[Asia Economy Reporter Kiho Sung] Sohn Byung-hwan, Chairman of NH NongHyup Financial Group, urged, "While paying attention to the market and digital trends, do not get obsessed solely with technology and always remember the essence of customers and the financial industry." He also revealed his goal to embed digital transformation (DT) as an organizational culture across all NongHyup Financial Group affiliates.

Chairman Sohn made these remarks on the 26th at the NongHyup Financial DT Insight Forum, attended by executives and employees from the digital divisions of all group affiliates. This forum was the first event held with affiliate staff since Sohn’s inauguration on the 1st of this month.

The forum, conducted via video conference, was organized following Chairman Sohn’s suggestion that "employees should take an interest in the latest digital technology trends in the market and consider the essence of finance from the customer’s perspective."

Before the forum, employees reviewed the latest market trends by attending a lecture on key issues from the 'International Consumer Electronics Show (CES) 2021' given by Jeon Chang-ui, Senior Researcher at Samjong KPMG.

During the subsequent discussion, participants shared opinions on what implications could be applied to NongHyup Financial’s business and the direction digital transformation should take for financial institutions.

Chairman Sohn also personally participated in the communication with employees. He reiterated his philosophy that DT ultimately begins with interest and understanding of the market and customers, emphasizing, “Always stay alert and interested in the latest market and digital trends, but do not get obsessed solely with technology and always remember the essence of customers and the financial industry.”

The NongHyup side explained that this event reflected Chairman Sohn’s strategic direction to ensure all affiliates consistently and swiftly promote digital business. To this end, the roles between the holding company and affiliates were clearly divided.

Under the goal of securing the best digital competitiveness in the industry, affiliates will steadily implement the DT roadmap enhancement plan established last year, while the holding company will monitor progress by incorporating it into the CEO evaluation.

Chairman Sohn described, “Securing digital experts is a key task that determines the success of the business,” and stated, “We will boldly hire external specialists.” He added, “The ultimate goal is to root DT as an organizational culture across all NongHyup Financial Group affiliates,” and said, “This year, NongHyup Financial will rapidly promote digital financial innovation and build a financial platform that customers desire.”