Stressing On-The-Spot Management

Suhyup Bank President Lee focuses on results-oriented personnel system and warm relations with customers

President Lee Ju-hyung of Suhyup Bank, on the occasion of his first anniversary as the CEO of the bank on April 13, said it is the age of speedy management and the bank that can cope with rapid changes in the financial industry can survive. Suhyup Bank is small yet, but will be a strong and fast financial institution, he added.
In order for the bank to cope with the age of speedy management, he streamlined the bank’s set up for speedy decision-making, especially the reporting procedure, and ordered to make the bank’s operation an on-the-spot and active style of management.
Lee showed how he practices his on-the-spot management style is done by visiting the East Gate Market soon after his inauguration as the CEO.
He also declared 2010 as the initial year for the bank to prepare for the new decade. He invited loyal customers of the bank who acted as honorary branch managers for a session to talks to open the New Year this year. He also called on loyal customers during his on-the-spot management tours of the bank’s branches to express the bank’s appreciation.
Lee’s past year as CEO has been especially meaningful to him as he got over the feeling that Suhyup Bank is too small amid a sweeping trend in the banking community for mega banks. He now speaks with confidence when he talks about the bank’s strong points.
Lee pointed out three strong points for Suhyup Bank, one of them being its advantage of being able to cope with changes in the financial environment swiftly with its slim structure. He also spoke of its huge potential for growth, as it is the only specialized bank for the maritime and fishery industries. Its been trying to be a family bank for its clients.
The CEO feels that the bank has to strengthen three areas of its operation to boost its competitive power. First, its personnel management by making it a results-oriented one to strengthen its responsible management system to determine that an employee can earn as much as his output of work under a new reimbursement system. He has been strengthening the flexibility of manpower management under the new system that age and seniority have no relation to promotions and positions, but are based only on performance results. The bank has been receiving open applications for positions within the bank including branch managers and it plans expanded investments in manpower training to upgrade the ability of its staff to perform and to increase the employment of able personnel to strengthen the bank’s personnel competitiveness.
Lee also felt that the repayment of public funds was the highest priority for the bank and he plans to build a base for sustainable growth for the bank including its capital structure through all kinds of efforts within and without, although a number of measures have already been taken including the revision of the Suhyup Law, setting March 18 as the date to repay public funds by the bank, a freeze of officers’ salaries and turning part of salaries into investments in the bank.
Lee’s first year in office has been acclaimed as a great success for the frontline works of the bank with his horizontal and running-on-foot management style.
He said he will focus his management on on-the-spot management through rapid decision making so that the bank can grow with its clients as companions.
On April 12, the CEO, as usual, visited the Karak traditional market in Songpa District in Seoul along with the staff of the bank branch located near the market, one of the largest in Seoul, and presented them with rice cakes on the occasion of the one year anniversary of his arrival at the bank.
Lee discussed with the merchants, surprised by the sudden visit, their problems if any and life in general, thanking them for their loyalty to the bank for such a long time.
The bank has been operating mobile banking services through an on-the-spot marketing campaign stressing affection for its customers under the “permanent family” relationship with its clients.
On April 8, President Lee visited Changsung Industrial Co. as part of his on-the-spot management strategy and talked with workers who have been working hard to overcome the struggles brought on by the economic crisis at the plant, after looking around at the plant’s production processes. He also thanked the workers for their steadfast loyalty to the bank.
He planted a cherry tree to wish for the partnership between Suhyup Bank and the company after touring the small- to medium-sized company’s plant, which is faced with the difficult problem of restructuring. nw

President Lee Ju-hyung of Suhyup Bank.

Suhyup Bank officers and employees in an outdoor activity to swear a new start at the beginning of 2010.