Shinhan Financial Group Chair and CEO Jin Ok-dong said a sweeping transformation of the financial industry is already in progress, calling AX — the artificial intelligence-driven transformation — a matter of survival.
“The great transformation that will fundamentally reshape the history and paradigm of finance has already begun,” Jin said in a New Year’s message on Friday. “AX and digital transformation are no longer tools for profit generation or operational efficiency, but matters of survival.”
Shinhan’s slogan for the year is “Great Challenge 2030,” with 2026 positioned as a pivotal year for executing changes in the group’s push toward future finance. “We must bolster our core competitiveness through AX while securing leadership in the digital-asset ecosystem,” he said.
Jin said the industry is approaching an inflection point as technology reshapes the established order of finance. “The expansion of digital assets, Web3 wallets and agentic AI is becoming a reality,” he said, warning that financial firms risk losing their footing even within the traditional domains of deposits, lending and payments.
He also called for faster development of future strategic businesses that cut across traditional sector boundaries and seek greater synergy. That includes expanding senior-focused services by strengthening integrated wealth management across banking and securities, while lifting earnings through deeper collaboration in insurance and asset management.
Jin also underscored the group’s role in supporting productive finance in the broader economy. “Our growth now hinges on the competitiveness of the capital market,” he said, adding, “Shinhan must expand investments to support economic revitalization and serve as a long-term partner to innovative companies.”
The CEO stressed the urgency of the effort. “Stagnation means retreat,” he said. “We must look further ahead and confront whether we will cling to past practices and fade into history as a legacy financial group.”
jwc@heraldcorp.com