SC Korea CEO on track for fourth consecutive term

SC Bank Korea CEO Park Jong-bok [Courtesy of SC Bank Korea]

Park Jong-bok, the incumbent chief executive officer at Standard Chartered Bank Korea Limited, has been recommended as the sole candidate for his fourth consecutive term as the bank’s president. Standard Chartered Korea, formerly SC First Bank, made the announcement on Monday, following a review of potential candidates by the Executive Nomination Committee last Friday. This appointment will be confirmed after the shareholders’ meeting on Wednesday and the board of directors’ approval on October 31. His next term is set to last one year, starting from January 8, 2024.

The nomination committee, comprising three independent directors, praised Park for his “professional expertise, extensive experience, knowledge, competence, exceptional communication skills, and outstanding leadership,” all of which have consistently driven the bank to achieve remarkable financial results.

Standard Chartered Korea has shown steady growth under Park’s leadership, with the bank’s net profit turning positive around a year after he took office. This achievement was made by mixing Standard Chartered’s global standards and management strategies used by the former Korea First Bank.

Park’s extensive experience in frontline sales, dating back to when he joined Korea First Bank in August 1979, has earned him the title of “sales veteran.” He has held key positions in banking, including head of sales and general manager of retail banking. Some of his clients have remained loyal to him for over three decades.

Born in 1955, Park has also been a strong advocate for fintech from the start, emphasizing the importance of information technology (IT) services and digitalization. He has introduced innovations, including receiving work reports via text messages and communication via social media.