Kang Taeyoung Appointed President of NongHyup Bank: "Strengthening Internal Controls and Achieving Zero Financial Accidents"

Inaugural Speech on the 3rd Day

Kang Tae-young, President of NH Nonghyup Bank, stated, “We will systematize all processes through business redesign and comprehensively reorganize vulnerabilities to strengthen internal controls and achieve zero financial accidents.”

At the inauguration ceremony held at the Nonghyup Bank headquarters on the 3rd, President Kang said, “During my given term, I will reestablish principles and fundamentals with the goal of ‘Finance, Embracing Dignity’ to further strengthen customer trust.”

He emphasized that first, by reestablishing principles and fundamentals, the bank must break away from business customs and promote projects faithful to regulations and principles to create an environment where customers can trust and transact. He mentioned that internal controls will be strengthened through business redesign and systematization.

Kang Tae-young, President of NongHyup Bank, is holding an inauguration ceremony at the NongHyup Bank headquarters on the 3rd. Photo by NH NongHyup Bank

He also stated that customer value will be prioritized by providing customized financial products and services and innovating customer experience through resolving customer complaints and issues.

He pledged to leap forward as a ‘Digital Leading Bank.’ President Kang said, “We will present a new customer strategy reflecting customer touchpoints reorganized around non-face-to-face and platform-based channels, and expand diverse and convenient digital financial services so that finance naturally permeates customers’ daily lives.”

Lastly, to proactively manage risks, he announced plans to establish and manage scenario plans for various crisis situations to respond swiftly to increased volatility and potential insolvency risks. He added, “We will build a sustainable growth foundation through efficient asset management and enhancement of capital adequacy, foster experts in future core businesses such as corporate finance, WM, and digital, and expand bold investments.”