Emphasis at 2024 Second Half Business Strategy Meeting
Urging Innovative Results through Connection and Expansion
Moon Dong-kwon, CEO of Shinhan Card, emphasized connectivity and scalability amid the rapidly changing financial environment. He believes that innovative outcomes must be achieved through collaboration across industries, including partners and group companies.
According to Shinhan Card on the 21st, CEO Moon stated at the 2024 second half business strategy meeting held on the 19th at Shinhan Card headquarters in Euljiro, Seoul, "All leaders must have creative imagination that breaks the mold," adding, "We must devote ourselves to creating innovative results through 'connectivity and scalability' with a pioneering spirit that opens a new horizon in finance."
Shinhan Card set the main theme of this meeting as 'Financial Terraforming for Future Readiness.' Terraforming refers to the process of transforming the environment of a planet·satellite, or other celestial body other than Earth to make it similar to Earth so that humans can live there. Shinhan Card discussed ways to find unexplored areas in finance in the changed environment of digital·artificial intelligence (AI), connect existing and new capabilities, and create a new financial ecosystem.
At the meeting, CEO Moon stated, "In the second half of the year, we will focus on achieving results through connectivity and scalability." Connectivity refers to partnerships with the three major financial big tech companies and products like the 'SOL Travel Card' launched together with Shinhan Bank. CEO Moon requested strengthening collaboration with partners and group companies to go beyond simple connectivity. In addition, time was spent reviewing qualitative growth in the payment business value chain, differentiation in customer base, products, and marketing, activation of overseas payment usage and check card collaboration, and AI-based work innovation.
In this discussion emphasizing diverse imagination, CEO Moon said, "While realizing ideas is necessary, the creative byproducts produced in the process of overcoming difficulties for realization are also important in breaking existing frameworks," adding, "We must renew our thinking and spirit to align with the new zeitgeist of finance."
CEO Moon emphasized that such attempts and innovations are ultimately for the customers. He urged a cold evaluation and reflection on the benefits provided to customers and the trust gained from them, while stating the need to have a broad perspective on future customers. He explained that to respond to changing demographics and policies, it is necessary to understand customer segments such as foreigners, teenagers, and so-called 'active seniors' who have high economic capacity and vitality in life.
Furthermore, CEO Moon once again urged all executives and employees to maintain vigilance and practice internal controls to uphold financial trust and order.
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