Welcome Savings Bank is introducing a co-CEO system as it simultaneously pushes an AI shift in retail finance and strengthens competitiveness in corporate finance.

Welcome Savings Bank said on March 31 its board appointed Welcome Savings Bank Vice President Park Jong-sung (박종성) and Welcome F&D CEO Son Dae-hee (손대희) as new co-chief executives.

Park will be in charge of corporate finance and investment banking. He graduated from Seoul National University with a degree in business administration and was responsible for corporate finance and investment banking at IBK Capital before serving as an executive director and then as vice president of Welcome Savings Bank.

Park has led the expansion of the investment banking division. He plans to focus on diversifying the investment portfolio and advancing the profit structure, moving away from a structure centered on real estate project financing.

Son will oversee strategy and support as well as retail finance. He graduated from Kyung Hee University with a degree in international business administration and received an MBA from HULT International Business School in the United States and a digital finance MBA from Kookmin University.

After starting his career at IBK Industrial Bank of Korea, he worked across key group affiliates including Welcome Savings Bank, Welcome Capital and Welcome F&D. He has led overseas business, including entry into Vietnam's NPL market, as well as data-driven management.

Son will push an AI-based financial transformation upon taking office. He aims to improve both operational efficiency and customer experience by introducing a customer-tailored AI financial assistant and expanding companywide use of AI.

Welcome Savings Bank appointed Shin In-sik (신인식), a professor in the School of Computing at KAIST, as an outside director to strengthen AI and IT expertise. It plans to further advance AI-based decision-making and its digital transformation strategy.

A Welcome Savings Bank official said, "Through the co-CEO system, we have established a management structure that combines expertise and innovation," and added, "We will strengthen competitiveness by expanding AI-based financial services and diversifying our business portfolio."