Chairmen of Four Major Financial Groups Reunite After Two Weeks... Backing APEC

Attendance at CEO Summit Opening Ceremony on October 29
Seeking Opportunities for Global Financial Cooperation
Active Campaigns and Promotions Even Without Official Partnership

The chairmen of Korea's four major financial holding groups will gather in Gyeongju, North Gyeongsang Province, on October 29. They are expected to seek opportunities for global financial cooperation as they attend the Asia-Pacific Economic Cooperation (APEC) meeting, which will bring together a total of over 1,700 participants, including world leaders and global business executives. This marks the first time in two weeks that they have convened since the International Monetary Fund (IMF) and World Bank (WB) Annual Meetings held in the United States on October 13.

(From left) Yang Jonghee, Chairman of KB Financial Group; Jin Okdong, Chairman of Shinhan Financial Group; Ham Youngjoo, Chairman of Hana Financial Group; Lim Jongryong, Chairman of Woori Financial Group.

According to the financial industry on October 28, Yang Jonghee, Chairman of KB Financial Group; Jin Okdong, Chairman of Shinhan Financial Group; Ham Youngjoo, Chairman of Hana Financial Group; and Lim Jongryong, Chairman of Woori Financial Group, have been invited to attend the opening ceremony of the APEC CEO Summit on the morning of October 29. From the banking sector, Lee Hwanju, President of KB Kookmin Bank, and Jeong Jinwan, President of Woori Bank, will accompany them.

This gathering of the four chairmen comes just fifteen days after they attended the IMF and WB Annual Meetings in the United States from October 13 to 18. Following their schedule in the United States, they are now continuing their global financial diplomacy in Gyeongju. A financial industry official stated, "Although there are no opportunities for direct participation in the sessions, as many global business leaders are expected to attend, this can serve as a valuable opportunity to share global economic and financial trends and expand global networks."

The APEC CEO Summit is the largest private economic forum in the Asia-Pacific region, held ahead of the APEC Leaders' Meeting, which will open on October 31. This year's summit is expected to bring together 16 top-level representatives from APEC member economies and over 1,700 participants, including global CEOs. Notably, attention is focused on meetings with big tech industry leaders at the forefront of the current hot topic, artificial intelligence (AI) technology. Jensen Huang, Founder and CEO of NVIDIA, has confirmed his attendance, and Masayoshi Son, Chairman of SoftBank Group, is also highly likely to participate. From the financial sector, Jane Fraser, CEO of Citigroup, and Daniel Pinto, Vice Chairman of JPMorgan, are among those scheduled to attend.

Financial companies are supporting the successful hosting of APEC through various means, including promotional campaigns. Woori Financial Group, the only official promotional partner among financial firms, has displayed a large wrapping advertisement on the exterior wall of its headquarters since September 5. It is also conducting promotions using electronic billboards at major hubs frequented by both domestic and international visitors, such as Seoul Station and Incheon International Airport. At the APEC Finance and Structural Reform Ministers' Meeting held in Incheon from October 20 to 23, Woori Financial Group was the sole financial firm in attendance, introducing its digital supply chain finance platform, "OneBiz Plaza." In addition, it is operating mobile currency exchange booths near Bomun Complex and accommodation facilities in Gyeongju for foreign VIPs.

Other financial companies are also actively participating in this national event, even though they are not official sponsors. Shinhan Financial Group has featured actor Park Bogum as its model and is promoting APEC in areas with high foreign visitor traffic, such as Myeongdong and City Hall. Banners have also been hung at branches in Gyeongju, Busan, and Daegu, and advertisements are being displayed on KTX trains and Gyeongju city buses. KB Financial Group signed a work agreement with North Gyeongsang Province in December last year to support the hosting of the APEC Leaders' Meeting and has provided a total of 2 billion won. Hana Financial Group is also conducting a group-wide support campaign to raise public interest.