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08/26/2020 HYU News > Alumni > 주목받는한양인

Title

[Attention! Hanyangians] Kakao Bank representative alumnus Yoon Ho-young listed as an icon of an innovative financial game-changer

“Businesses are live organisms that require different leaderships according to the business evolution stage”

Global News Team

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Contents
The Kakao Bank placed itself as a benchmark for a global internet primary bank in financial innovation and economic successes such as turning into the fastest profit-making internet bank after two years of its establishment. At its core stands alumnus Yoon Ho-young, who was listed as an innovative financial game-changing icon as the representative of Kakao Bank.


Mr.
Yoon graduated from Hanyang University's Department of Business Administration and started his work in the Korea Fire Insurance in 1996. After he worked as the management chief at the ERGO Daum Direct, and as the Head of the Management Support Team at the Daum Communications and Kakao, he built an expertise in fusing finance and IT technology. Moreover, when he was working as the vice-president at Kakao, he was the first to prepare for the establishment of the Kakao Bank.


The Kakao Bank came out announcing 'the start of a new bank different than before,' 
The internet primary bank was a new form that had to place itself in the market by squeezing through the prior bank areas, which nobody could guarantee its success. However, the Bank unexpectedly succeeded in its first profit-making in 2019, only after six quarters of its establishment. At the moment, the asset size grew as must as the local banks and the monthly bank application user number exceeds all other banks.


According to the Munhwa Daily, published on August 24, Mr.
Yoon said that “I've never thought about standardized leadership when leading the Kakao Bank” and noted that “businesses are live organisms. They require different leadership according to the business evolution stage,” Because there is no set path, there is an indisputable flexibility that the leaders show when establishing a new road. Now, Mr. Yoon is the leader of financial innovation.

 

Mr. Yoon emphasizes horizontal and even relationships more than anything. It is because of the thought that'thinks are apt to fall when the people in their 40s plan and 50s to 60s decide on the services that people in 20s to 30s will use'. Following Mr. Yoon's management philosophy, every employee at the Kakao Bank uses English names and horizontal business cultures are attempted in diverse parts such as the working space and organization structure.


In addition, Mr. Yoon gathered some intelligence groups to hold debates to struggle through the uncertainties of the future. It is from his belief that group intelligence is more efficient than individual ones. The typical example is the debate that took place for two weeks in the process of deciding to only provide mobile app services without PC banking as the prior bank businesses do. Mr. Yoon persuaded the need for a mobile application service that provides the best conveniences to the employees who supported PC banking.
 

The reinterpretation of decision making efficiently shows Mr. Yoon's work method. He highlights that “although the authority of decision making is in the hands of the organization's chief, the real decisions must be made by delegating a person that thinks most about the problem and who is familiar with it to reach the best decision.” In fact, Mr. Yoon assigned the application design decision to the relevant department. In exchange, the responsibility is on Mr. Yoon. Mr. Yoon announced last May that “we will incarnate the Kakao Bank First that lets people think of our bank when they hear the words mobile finance through service extension and enforced customer experience.” The Kakao Banks' steps to reaching the goal within this year will be paid attention to.

 


 

Global News Team

global@hanyang.ac.kr

Translation by: Park Gyeong-min

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