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Asiamoney anniversary interview: Baek Soon Lee

Date: 27 Jul 2009

In one of a series of interviews to celebrate Asiamoney’s 20th anniversary, the chief executive of Shinhan Bank talks about target markets, expansion ambitions and why the global financial crisis must teach Asia to concentrate on self-generated growth.

Keywords (click to search): [Shinhan Bank] [Baek Soon Lee] [interview] [CEO]

Richard Morrow

Asiamoney [AM]: Please describe your bank’s strategy and reach in South Korea and more broadly in Asia as of 1989. How do those compare with 2009? What percentage of total revenues and profits did Asia represent in 1989 and how does that compare with now? And what would you predict that those percentages will be in 2029?

Baek Soon Lee, chief executive officer, Shinhan Bank [BSL]: In 1989, Shinhan Bank’s global network was still at something of a token level as it consisted of just four branches in two countries, the US and Japan.

We recognised that global business offered us the opportunity to grow beyond the limited confines of the domestic market, and drew up a medium and long-term global strategy. As a result, as of May 2009 we had built up a network of 43 branches and subsidiaries in a total of 13 countries, which we...

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