Seoul City Appoints Joo Cheol-su, Former Shinhan Bank Vice President, as Chairman of Seoul Credit Guarantee Foundation

Joo Cheol-soo, New Chairman of Seoul Credit Guarantee Foundation

[Asia Economy Reporter Lim Cheol-young] Seoul City announced on the 1st that it will appoint Joo Cheol-soo (61), former Vice President of Shinhan Bank, as the chairman of the Seoul Credit Guarantee Foundation, which is currently vacant.

Chairman Joo graduated from Korea University with a degree in Business Administration and completed graduate studies at the same university. He joined Shinhan Bank and has been an expert in the financial sector for over 30 years, recognized for playing an important role in strengthening the social role of financial institutions.

Chairman Joo held various positions at Shinhan Bank, including management planning and Vice President of large corporations, building expertise in diverse fields. He also promoted agreements with large companies such as Yuhan-Kimberly, Maeil Dairies, and LIG to provide financial benefits to individuals. Furthermore, he played a leading role in activating Shinhan Bank’s ESG management.

The Seoul Credit Guarantee Foundation is a city-affiliated institution that currently provides comprehensive services such as credit guarantees, management support, and consulting for small businesses and small merchants in Seoul. In particular, it supports stable operations by providing low-interest business funds through credit guarantees to small businesses and merchants lacking collateral. It is also evaluated as providing practical help to small merchants and neighborhood markets through customized management support and youth startup support tailored to each life cycle stage from startup to growth and re-challenge.

Han Young-hee, Seoul City’s Labor, Fairness, and Coexistence Policy Officer, said, “We expect that Chairman Joo Cheol-soo, who has long experience and expertise in the financial sector, will be able to further develop the Credit Guarantee Foundation into a comprehensive support institution that resolves difficulties faced by small businesses and merchants and contributes to revitalizing the local economy.”