[Asia Exclusive] Heo In, KB Kookmin Bank CEO, Achieves Record Profit and First 3rd Term... The Secret is 'People-Centered Management'

Management Philosophy Centered on Customers and Employees
"Try a Lot and Fail a Lot" Emphasizing the Spirit of Challenge
"The Value of Respecting Differences Is Also Important"

Heo In, President of KB Kookmin Bank. [Photo by Kookmin Bank]

[Asia Economy Reporter Park Sun-mi] ‘Record-high profit realization,’ ‘Increasing contribution to group profits,’ ‘First-ever three-term reappointment as bank president.’ At the center of these achievements lies the management philosophy of KB Kookmin Bank President Heo In, who emphasizes a people-centered approach.

President Heo regards people-centered management as a persistent management philosophy he has practiced since his appointment as bank president in 2017. People-centered means ‘customer-centered’ outside the bank and ‘employee-centered’ inside the bank. No matter how times change or environments shift, the unchanging truth, according to President Heo, is that companies loved and chosen by customers will steadfastly lead the market.

He says communication is essential for people-centered management and is recognized as a bank president who communicates well even within the banking sector. At the CEO Town Hall Meeting held in June, the shift from CEO-centered communication to employee-centered communication was regarded as a new approach. President Heo said, "Communication is indeed a difficult topic, but I plan to continue putting more effort into communication through various methods," adding, "Organizational culture cannot be changed overnight, so we will steadily pursue changes to spread an organizational culture internalizing horizontality, decentralization, and responsibility."

His communication efforts have become the foundation for KB Kookmin Bank to continuously challenge itself and achieve innovative financial results in the rapidly changing financial industry. One phrase President Heo often tells employees recently is, "Challenge a lot and fail a lot." He said, "I believe the most correct path to becoming a creatively working company is to distinguish between good and bad failures at the organizational level and to create a culture where all members can view good failures?resulting from bold challenges?without prejudice."

‘Respect for differences’ is also one of the messages President Heo emphasizes to employees. He said, "In modern society, diversity holds more important value than unity or uniformity. We should not think that having different opinions means being ‘wrong’ but rather respect it as ‘different.’ Only then can I also be respected by others."

President Heo, who never puts down a book, has a habit of reading books and articles on various topics whenever he has free time. He recommends, "I suggest reading ‘Art Stories Studied for the First Time in My Life’ and ‘Classical Music Lessons Heard for the First Time in My Life.’ I hope that during the vacation season, you can feel a sense of relaxation through books that provide emotional stability."