Financial Leaders Opt for a "Quiet" Summer Vacation... Here’s What They’re Reading

Vacations Are Quiet and Short, Not Publicly Announced
Book Recommendations on Organizational Communication, Self-Development, AI, and the Senior Industry

As the full-fledged vacation season begins, the heads of major domestic financial institutions are expected to spend a "quiet vacation" this summer. Many of them are taking short breaks for rest without making their plans public, or have not set any special vacation plans at all. Despite record-high earnings in the first half of the year, they are expected to use this time to recharge while considering management strategies for the second half, as internal and external business conditions are not expected to be easy going forward. These leaders have either personally read or recommended books to their employees that emphasize future growth engines such as artificial intelligence (AI) and the senior industry, as well as organizational communication.

(From left) Jin Okdong, Chairman of Shinhan Financial Group; Ham Youngjoo, Chairman of Hana Financial Group.

According to the financial sector on July 18, the summer vacation trend among the chairmen and presidents of the top five financial holding companies and banks is "quiet and short." Even during summer, most of their schedules remain packed, so it is rare for them to take a week-long vacation. A financial industry official said, "When their schedules allow, they might take a short break near Seoul," adding, "Unlike in the past, many now leave quietly without informing the public." There are also CEOs who have not yet set their vacation plans.

Jin Okdong, Chairman of Shinhan Financial Group, who is known as an avid reader, recommended two to three books to read during his vacation. One of these is "Proism" by Kim Jaesan Master, who led global marketing at Cheil Worldwide for 35 years and later served as a professional basketball team manager. "Proism" is an abbreviation for "professional spirit," and the book discusses the qualifications and training methods of a true professional who remains steadfast in a rapidly changing world. Chairman Jin explained his recommendation by saying, "What impressed me was how the concept of a professional was defined not simply as technical skills or qualifications, but as an attitude toward work." He has a particular fondness for this book, which was also discussed at the "Samseon Session," a group CEO book club, in March.

Ham Youngjoo, Chairman of Hana Financial Group, recommended "Ask the Way of Work and Success" by Matsushita Konosuke, the founder of Panasonic. Chairman Ham explained, "The book contains the deep insights of the author, who overcame poverty and illness in his youth to found Japan's top company and become known as the 'god of management,'" adding, "It gave me an opportunity to reflect on the true source of success."

(From left) Lee Hwanju, KB Kookmin Bank President; Jung Sanghyuk, Shinhan Bank President; Kang Taeyoung, NH Nonghyup Bank President; Lee Hoseong, Hana Bank President.

Jung Sanghyuk, President of Shinhan Bank, and Lee Hwanju, President of KB Kookmin Bank, each recommended books on AI and the senior industry, respectively. Their recent interests are clearly reflected in their choices.

President Jung's recommended book is "Dual Brain" by Ethan Mollick. President Jung said, "My growing interest in AI agents naturally led me to this book," adding, "Rather than just simple methodologies for using AI, I gained essential insights into coexisting and collaborating with generative AI." The passage he found most memorable was, "What many people fail to realize is that the AI we are currently using will be the worst (most outdated) AI we will ever use in the future."

President Lee chose "Agetech" by Kim Youngsun. This book, written by Professor Kim Youngsun, an expert in the senior industry and director of the Agetech Research Institute at Kyung Hee University, summarizes his research achievements. It introduces the changing characteristics of senior consumers and presents directions for innovation in the senior industry. President Lee explained his recommendation by saying, "Through this book, I was able to see the senior industry as a new growth engine and field of opportunity," adding, "It also provides in-depth insights into the direction companies should take to address the social issue of super-aging."

Lee Hoseong, President of Hana Bank, recommended "A New Interpretation of the Three Kingdoms: Reading the Three Kingdoms from the Perspective of the 40s and 50s" (by Heo Ubeom) as a book for the vacation season. He said, "This book connects the heroic narratives of the Three Kingdoms to our lives and companies today," adding, "On the journey of a company facing new changes, I gained insights into turning crises into opportunities."

Kang Taeyoung, President of NH Nonghyup Bank, recommended "To Be Honest" by Ron Carucci. Ron Carucci, co-founder of the global consulting firm Navalent, presents three conditions for building an honest organization and principles for leaders to put into practice, based on interviews with more than 3,000 people and hundreds of corporate consulting cases over more than 15 years. President Kang said, "Honesty is like a muscle. The book's message that repeated and systematic training is needed to become proficient left a strong impression," adding, "By strengthening the muscle of honesty, I hope to continue growing together with the members of our organization."