“Let’s run the group’s entire digital platform ‘right, fast, and differently’ to proudly lead the competition with big tech and platform companies,” said Cho Yong-byoung, chairman of Shinhan Financial Group, in his new year’s message for 2022 on Jan. 3.
Financial trends are rapidly changing, centering around digital culture, Cho said. He called on employees of Shinhan Financial Group to take the lead in digital ecosystems.
“Dear executives and employees, in 2022, complex uncertainties are surrounding us both inside and outside,” Cho said.
“Past practices and ways to success have become obstacles to innovation and our complacency towards our past is blocking us from making changes for a better future. This is why we started a cultural transformation that fundamentally changes the way Shinhan employees work since last summer.”
Starting with the Shinhan Cultural Forum on July 7, Shinhan Financial Group has been strongly promoting the REBOOT Shinhan Campaign.
“First of all, we have established a new vision of ‘easier, more convenient and newer finance’ from customers’ points of view. Now, we have to change Shinhan Financial Group according to the vision,” Cho continued.
Cho selected “Right,” “Fast” and “Differently” as core values of Shinhan Way 2.0. These three keywords were chosen to set up fresh and flexible standards for those in the field.
“Let’s choose the right path based on customers and the future, and focus our resources on the right things for our society,” Cho said.
Speed is competitiveness, according to Cho’s message. “You have to constantly learn, grow, and speed up your action,” Cho said. “Let’s act quickly and overcome failures. A meaningful failure will lead to a greater success.”
Cho proposed to employees that all members of Shinhan Financial Group achieve the dream of making Shinhan Financial Group a world-class financial group.
The new core values will play a big role in helping Shinhan Financial Group to win competition for leadership in digital finance, Cho said. “Let’s create unique customer experiences based on Shinhan Way 2.0,” Cho stressed.
“Let’s run the group’s entire digital platform right, fast, and differently to proudly lead the competition with big tech and platform companies.”
Shinhan Financial Group’s new vision and Shinhan Way 2.0 correspond to Shinhan employees’ mission of Making Finance Beneficial for the World, Cho said.
The value Shinhan pursues is exactly in line with the sustainable growth of our society.
In 2021, Shinhan Financial Group established its ESG slogan “Do the Right Thing for a Wonderful World.”
Cho took part in the UN Climate Change Conference (COP26), expanded communications with global companies and announced its carbon neutrality plan for the first time as an Asian financial company in order to fulfill its social roles.
“Existing financial firms are also rushing to switch to digital systems and services, but new attempts are made mainly by internet banks and big tech-affiliated financial firms,” he said.
“Customers are now moving toward the value of experiences, not sizes and profits of financial firms. Let’s create Shinhan’s own customer experiences based on Shinhan Way 2.0.”
This year marks the 40th anniversary of Shinhan Financial Group.
“Shinhan has led financial innovation by practicing the value of its name,” Cho said. “The New Year is upon us. It’s time to remind us of the founding spirit of Shinhan Financial Group to grow Shinhan Financial Group into a world-class financial group.”
“We are determined to overcome current difficulties and head for a new future of Shinhan,” Cho continued. “Let’s break through tough business environments surrounding us, win fierce competition in the financial market with its boundary with others blurred and avoid old and outdated practices.”
Cho suggested completing the process of carrying out a major transformation by building a new culture where innovation becomes a daily routine on top of the founding spirit of serving customers sincerely and faithfully and contributing to the growth of Korea though financial services.
“Let’s take pride in the 40-year-long history of Shinhan and share a strong determination and will to realize another big takeoff of Shinhan,” he said.
