Workers prepare the lobby for CES 2025 at the Las Vegas Convention Center West Hall in the U.S., Sunday (local time). Reuters-Yonhap
Korean financial CEOs broke their yearslong streak of attending the annual CES tech trade show in Las Vegas, amid lingering uncertainties in the domestic economy. This year, Korean CES delegations were mostly limited to working-level staff, with some companies opting not to send any representatives at all.
According to market watchers on Monday, only Shinhan Bank and the Industrial Bank of Korea (IBK) plan to operate independent booths at the world’s largest tech show, which kicks off on Tuesday (local time). However, neither organization’s leader will attend the event.
This is the first time that IBK has set up an independent booth at CES. The bank plans to unveil its artificial intelligence (AI)-powered „future growth model,“ a system designed to evaluate the growth potential of startups within their first seven years by leveraging data-driven insights.
While IBK Chairman and CEO Kim Sung-tae had initially planned to attend the event in person to commemorate the bank’s first CES venture, he ultimately decided to remain in Korea, citing rapidly changing domestic circumstances. In his place, IBK Deputy CEO Kim Hyung-il will represent the bank.
„We aim to demonstrate to global corporations and investors that IBK holds expertise in financing for small and medium-sized enterprises, as well as supporting innovative companies,“ an IBK official said. „We will actively support the global ventures of Korean startups that possess innovative technology.“
Shinhan, which has hosted its own booth for three consecutive years, is also showcasing AI bank tellers and an unmanned banking branch. Last year, Shinhan became the first financial institution to develop its own large language model for integrating AI into financial operations. The bank is now focused on further refining and advancing the model.
Shinhan Financial Group Chairman Jin Ok-dong, known for his interest in CES, and Shinhan Bank CEO Jung Sang-hyuk, who attended last year, were initially expected to participate this year. However, both opted not to due to domestic commitments.
Including Shinhan, five domestic financial holding groups decided not to send executive-level representatives this year. KB, Woori and NH NongHyup dispatched only working-level staff, with Woori attending the exhibition for the first time in five years since 2020. Given the growing influence of AI, these groups aim to explore new opportunities for collaboration across different industries.
In contrast, Hana Financial Group chose not to send any representatives at all, despite its chairman Ham Young-joo having personally attended CES for the past two years.
„We decided not to participate in CES this year to focus on managing internal risks amid the economic and social uncertainties at home and abroad,“ a Hana Financial Group official said.