[New Year's Address] Shinhan Financial Chairman Jin Okdong: "AI Transformation Is a Matter of Survival, Speed Must Increase"

Chairman Jin Okdong of Shinhan Financial Group Delivers New Year's Address on January 2
Accelerating AI Transformation Is the Key to Survival

Jin Okdong, Chairman of Shinhan Financial Group

Jin Okdong, Chairman of Shinhan Financial Group, emphasized that artificial intelligence (AI) will determine the company's survival in the future and stressed the need to accelerate its adoption.

In his New Year's address released on January 2, Chairman Jin stated, "We are at a critical inflection point where technology is reshaping the order of finance," adding, "We must prove Shinhan's reason for existence by navigating between Web 2.0 and Web 3.0."

He said, "This year, our management slogan is 'Great Challenge 2030: Bold Execution Toward Future Finance,'" and explained, "We will actively pursue future strategic businesses such as AI."

Chairman Jin emphasized, "This year, we must accelerate AX (AI Transformation) and DX (Digital Transformation)," adding, "AX and DX are not merely tools for generating profit or improving work efficiency, but are essential for survival."

He particularly noted, "Through AX, we must further enhance Shinhan's fundamental competitiveness and secure leadership in the digital asset ecosystem," and added, "A fundamental innovation is needed across all aspects of our work processes and customer touchpoints."

He also identified the leadership of future strategic businesses as a key focus for this year. Chairman Jin stated, "We must further strengthen the One WM (One Wealth Management) system for banking and securities, and create differentiated value for senior customers," adding, "While increasing asset profitability through the synergy of insurance and asset management, we must also establish an unassailable competitive edge globally."

He underscored the importance of productive finance. He asserted, "The group's future growth depends on our competitiveness in the capital markets," and continued, "We must expand investments that vitalize our economy and become a partner for the joint growth of innovative companies." He added, "Foresight that can penetrate changes in industry and the future is a core competency required for productive finance," and urged, "Let's strengthen our workforce, organization, and evaluation systems to enhance our ability to execute."

Chairman Jin also called for stronger financial consumer protection, saying, "We must safeguard customers' information and assets securely, and more rigorously consider and implement ways to support the financially underserved."

He concluded, "If we remain stuck in old habits, we cannot survive on the battlefield of future finance," stressing the need for a spirit of 'no progress, no survival.' He finished his address by quoting the Red Queen from Alice Through the Looking Glass: "If you want to get somewhere else, you must run at least twice as fast," and added, "We must continue to change and innovate relentlessly."