|Woori Financial Capital CEO Park Kyoung-hoon speaks at an online inauguration ceremony at the firm's headquarters in Seocho District, Seoul, Wednesday. Courtesy of Woori Financial Capital|
By Lee Kyung-min
Woori Financial Capital held a ceremony on Wednesday inaugurating its new CEO, Park Kyoung-hoon, the vehicle-financing subsidiary of Woori Financial Group said Thursday.
"Group synergy, digital innovation and strengthening internal capabilities will be our top priorities, a set of future-oriented goals to make a leap forward to become a competitive capital firm," he said during an online ceremony at the firm's headquarters in Seocho District, Seoul.
The company said it plans to pursue drastic changes and innovation to prepare for fierce competition in the vehicle-financing market, a daunting task due to the country's slow economic recovery, tight financial regulations and protracted COVID-19 pandemic.
Park's management drive will place a greater emphasis on mutual growth with the group's other subsidiaries via closer integration, cooperation and digital innovation to strengthen core competitiveness and sustainable growth and enhancing its internal capabilities.
"Let's continue to shore up efforts to create value for tomorrow through innovation today, thereby making Woori Financial Capital a highly agile entity that best responds to and adopts new rules in the fast-changing business landscape," he added.
Park first joined Woori Financial Group's banking subsidiary in 1990, and has since played key roles in strategic financing, corporate financing, sales and global business management over the past two decades.
Woori Financial Capital's assets surpassed 7.3 trillion won ($6.6 billion) as of September 2020, while its net profit reached 80.8 billion won in the January-September period the same year.
Its credit rating jumped to AA- from A+, an upgrade recognized after being incorporated into the financial group.
Woori Financial Capital was set up after Woori Financial Group acquired a 74 percent stake in Aju Capital last October, in a move to diversity its business portfolio by reducing its heavy reliance on banking.