Shinhan Card carries out reshuffle to focus on growth

Shinhan Card, South Korea’s largest credit card company, said Monday that it has implemented a management shake-up to expand its new leading businesses and add momentum to its big data system.

This was the second reshuffle since CEO Wi Sung-ho took office in 2013.

“The goal was to groom the company for possible paradigm changes in the credit card market,” a spokesperson said.

“The most significant change was to subdivide the new growth business department so that each corresponding sector may respond more agilely to sudden changes.”

The company maintained its four-department system but renamed most of them. The business promotion department was renamed to the sales department, strategic business to new growth business, management planning to planning, and management support to support.

Three new teams ― fin-tech, new business and global business ― were added under the new growth business department, reflecting the firm’s growing interest in financial technology and overseas markets.

In the sales department, the company established the “Code9” special task force, aimed at expanding the company’s big data management system.

Introduced in May, the Code9 system uses Shinhan Card’s massive customer data network to analyze the customers’ purchasing behavior and apply the information to card marketing and services.

Also, a big data consulting team will be established in addition to the already existing big data marketing team, according to officials.

While the BD marketing team focuses on promoting the company’s internal efficiency and profits by using the data, the new BD consulting team will work on expanding the leverage of big data to outside the company.

“The recent reshuffle will help Shinhan Card establish a solid foothold as a differentiated market leader, not only in the domestic market but also in overseas markets,” said the official.

“It will not just settle for current achievements, but respond preemptively to paradigm changes in the future market.”

By Bae Hyun-jung (tellme@heradcorp.com)