[비즈한국] Son Dae-hee (43), the new CEO of Welcome Savings Bank, has resigned from his positions as CEO of Welcome F&D and Welcome Credit Line. This is because current laws prohibit full-time executives of financial companies from holding concurrent positions. Consequently, CEO Son is expected to focus on the management of Welcome Savings Bank for the time being. As Welcome Savings Bank saw relatively sluggish performance last year, the financial sector is closely watching whether he can successfully turn the results around this year.
Welcome Savings Bank announced on March 31 that it has appointed CEO Son Dae-hee and Welcome Savings Bank Vice President Park Jong-sung (61) as co-CEOs. CEO Son is the eldest son of Son Jong-joo (71), Chairman of Welcome Financial Group. A Welcome Savings Bank official stated, "This co-CEO system aims for 'perfect harmony' by combining the solid expertise of the 60s generation with the young and dynamic leadership of the 80s generation" (Related article: Is the 'second-generation management' of Welcome Savings Bank beginning? Chairman Son Jong-joo's eldest son, Son Dae-hee, rises as a CEO candidate).
Amidst this, it has been confirmed that Son Dae-hee resigned from his positions as CEO of Welcome F&D and Welcome Credit Line as of March 31. Welcome F&D is Welcome Financial Group's IT and digital subsidiary, while Welcome Credit Line is a lending company. Among them, Welcome F&D has been struggling with poor performance, failing to break out of a deficit for several years.
Welcome Financial Group explained that CEO Son Dae-hee resigned from his positions at Welcome F&D and Welcome Credit Line in accordance with relevant laws. The Act on Corporate Governance of Financial Companies states, "A full-time executive of a financial company may not engage in the regular duties of another for-profit corporation." Accordingly, CEO Son is expected to focus on the management of Welcome Savings Bank for the time being.
CEO Son Dae-hee now faces the task of improving Welcome Savings Bank's performance. Welcome Savings Bank's earnings worsened last year. According to the audit report, the net profit of Welcome Savings Bank fell by 83.16%, from 37.4 billion won in 2024 to 6.3 billion won in 2025. This was due to the bank's loan loss provisions increasing from 156.9 billion won in 2024 to 240.9 billion won in 2025. Loan loss provisions refer to setting aside part of the net profit as a liability in preparation for expected future losses or expenses. Some suggest that the provisions were reflected prior to CEO Son Dae-hee's inauguration to reduce his burden.
The outlook for the savings bank industry is not entirely bright. Kim Yeon-soo, a senior researcher at NICE Investors Service, analyzed, "Amid the continued unfavorable business environment (for the savings bank sector), asset quality risks remain, which could lead to further expansion of the burden of loan loss expenses."
Upon taking office, CEO Son Dae-hee announced a transformation into an 'AI-Driven Bank.' Beyond simple digitization, the plan is to maximize operational efficiency and innovate customer experience through company-wide AI conversion, including the launch of customer-tailored 'AI financial assistants.' A Welcome Savings Bank official stated, "We will secure unrivaled financial AI capabilities, such as AI financial assistants, and accelerate AI transformation to introduce innovative financial services that transcend the limitations of savings banks." The financial sector's attention is focused on whether CEO Son can achieve management success at Welcome Savings Bank.