Park Chang-hoon Appointed President of Shinhan Card: "Need for Change and Innovation"

Park Chang-hoon, CEO of Shinhan Card, pledged change and innovation in his inaugural speech on the 2nd.

Park, who took office as the 5th CEO, emphasized the need for change and innovation at Shinhan Card, stating, "Recently, warning signs of a crisis have been felt in the Korean economy."

Changhoon Park, President of Shinhan Card

Park said, “In a situation where the population is declining and market growth is stagnant, the strategies of competitors such as tech companies armed with digital capabilities are becoming sharper,” adding, “At this time, we need to reconsider new strategies that suit us again.”

He emphasized that three things?the innovation of payment processes, expansion of market position through payment competitiveness, and creation of sustainable profitability?are the reasons for the existence of a card company. To achieve this, he said employees must change their working methods and attitudes and devote themselves to change.

Park stated, “If we have to create something that shakes the market, only many attempts are the key,” and added, “Only when moments of doing our best are sufficiently accumulated will the clue to innovation appear.”