Shin Myung-hyuk, CEO of Ajou Savings Bank./Photo = Woori Bank
[한국금융신문 전하경 기자] Shin Myung-hyuk, former vice president of Woori Bank, was appointed as the representative of Aju Savings Bank.
According to the savings bank industry on the 4th, Ajou Savings Bank held an executive nomination committee on December 30 last year and recommended Shin Myung-hyuk, former vice president of Woori Bank, as the representative candidate of Aju Savings Bank.
Lim Chu-wi said, “We have a wealth of experience and expertise with about 29 years of experience in financial institutions. As a manager, we have excellent risk management skills, organizational management skills, leadership, and communication skills.” I am judged to be in charge,” he said.
Myung-hyuk Shin was born in 1961 and served as the head of Woori Bank’s Busan West Department, Gangdong Gangwon Sales Headquarters, Trust Pension and Small and Medium Business Group Executive Vice President, Small and Medium Business Group, WM Group Executive Vice President, Woori Financial Group’s Vice President of Asset Management and Woori Bank Asset Management Group Executive Vice President.
As the new nominee has rich experience in corporate finance, Aju Savings Bank is expected to strengthen corporate finance.
As of the end of September, Aju Savings Bank has total assets of KRW 1.2105 trillion, of which corporate loans account for 41.31%. The ratio of SME loans was 27.62%, down about 4%p from 31.65% at the end of the third quarter of last year.
It is also expected to focus on seeking synergy with Ajou Capital, the parent company of Aju Savings Bank.
Aju Capital completed its incorporation into a subsidiary of Woori Financial Group in December last year. Aju Savings Bank, which has been incorporated as a subsidiary of Woori Financial Group’s grandchildren, must be incorporated into a subsidiary within two years if a financial holding company takes over the savings bank according to the Financial Holdings Act.
When Aju Savings Bank is incorporated into Woori Financial Group, it will become the fifth holding-based savings bank following KB Finance, Shinhan Finance, Hana Finance, and NH Nonghyup Finance.
Reporter Jeon Jeon [email protected]