The competitive landscape in South Korea's financial sector is shifting as KB Financial Group and Shinhan Financial Group implement strategic changes to enhance their positions. Recently, both companies conducted significant management workshops aimed at integrating artificial intelligence (AI) into their operations, which is viewed as a key driver of transformation.
At a workshop held last Friday at the Grand Walkerhill Seoul, KB Financial Group's Chairman Yang Jong-hee called for executives to embrace their roles as innovators and strategists. He emphasized the necessity of utilizing AI to penetrate new markets and adapt in a challenging economic climate. Concurrently, Shinhan Financial Group sought to reclaim its top position after losing it to KB by organizing a three-day management strategy conference at its training center in Yongin, Gyeonggi Province. This event, attended by around 250 executives, was extended to further emphasize the group's commitment to innovation.
During this conference, Chairman Jin Ok-dong highlighted the importance of AI over the next three years as a pivotal factor in shaping the financial industry's future. He encouraged leaders to independently explore how AI will impact their operations while recognizing the critical need for trust within organizations to ensure long-term success.