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IBK’s new CEO vows to stand against ‘outside influences’

IBK CEO Kwon Seon-joo
IBK CEO Kwon Seon-joo

Kwon Seon-joo, the newly inaugurated female CEO of the state-run Industrial Bank of Korea, vowed Monday to “take all perseverance and tenacity to stand against outside influences.”

“I will stand against the overwhelming change, the outside influence and challenges with perseverance and tenacity, in cooperation with labor union leader Hong Wan-yeop,” said the country’s first female bank chief.

She did not elaborate on outside influences, but sources said she was referring to the political circle’s interference in or pressure on the banking sector.

She also criticized IBK’s human resources as unbalanced, a major hindrance to the bank’s long-term growth.

Kwon stressed that she would “make bold decisions to enhance efficiency in branch operations, managing costs and attributing human resources,” citing the bank’s diminishing marginal gains.

She also vowed to speed up its approach to emerging markets in Asia as well as seek active engagement in the government’s financial policy to aid small and medium enterprises.

By Chung Joo-won (
Korea Herald Youtube