Summer Reading Recommendations from Financial Leaders: The Keywords Are "Great Transformation" and "Autonomy"

Recommended Summer Reads by Financial Group Chairmen and Bank Presidents
Insights Gained from Historic Turning Points
Messages Emphasizing the Importance of Acting with Agency

This summer, the key themes of the recommended reading lists selected by banking group chairmen and chief executives of major commercial banks are "great transformation" and "agency." At a time when the financial environment is undergoing a major shift due to developments such as artificial intelligence (AI), most of the selected books offer insights grounded in historical turning points. Books conveying the message that individuals should act with their own agency also made it onto the list.

A citizen is reading a book at a large bookstore in downtown Seoul. Photo by Yonhap News

According to the financial sector on August 3, Lim Jongryong, Chairman of Woori Financial Group, recommended "The Great Transition: How the Bubble Changed Wealth" by William Quinn and John D. Turner, as well as "The Coming Wave" by Mustafa Suleyman, a leading figure in the development of AlphaGo. "The Great Transition: How the Bubble Changed Wealth" explores the major bubble crises that have shaken history over the past 300 years. The book examines who has amassed wealth during cycles of boom and bust, helping readers understand rapidly shifting economic circumstances. "The Coming Wave" discusses the future led by AI and the accompanying social transformations.

Jin Okdong, Chairman of Shinhan Financial Group—known for his fondness for reading—nominated "Comunita’s Economy" by Luigino Bruni as a summer read. "Comunita’s" stands for "community." The book’s subtitle is "How Is an Economy for Everyone Possible?" Regarding his selection, Chairman Jin said, "For sustainable growth, the value of empathy must be sufficiently supported," and explained, "Only when generosity and human encounters function within the market—when Comunita’s is realized—can an economy for all become a reality." He added, "Finance, too, must go beyond numbers and performance and be directed towards people and neighbors."

Ham Youngjoo, Chairman of Hana Financial Group, recommended "Moral Ambition" by Rutger Bregman. The author, who has re-examined human benevolence, poses questions in this book such as "Where should we use our gifts and passions?" and "Does your success make the world better?" Chairman Ham stated, "Now is the time to confront urgent and neglected issues of humanity, like the climate crisis and poverty, with courage, and to harbor a noble ambition to stand on the right side of history." He emphasized, "It is time to connect our talents with efficient and strategic action."

Lee Hwanjoo, President of KB Kookmin Bank, chose "Twelve Great Turning Points That Changed World History" by Kim Taesu, a historian at the University of Göttingen in Germany. The book highlights the decisive junctures that shaped politics, economics, and ideologies of humankind, from the ancient Persian wars to the end of the modern Cold War. President Lee explained, "Throughout each historical transition, those who accurately read the currents of change and proactively transformed themselves were able to lead new eras, a lesson highly relevant for the financial world today." He added, "Looking into the choices made and consequences faced in the great turning points of the past not only expands knowledge but also helps us gain a macro insight into the structural changes we are confronting, fostering a long-term perspective."

Jung Sanghyuk, President of Shinhan Bank, recommended "Detailism," written by Cho Junguk, former CEO of Ambassador Seoul Pullman, as a reading choice. A hotelier with 24 years of experience, including time as general manager of Shilla Hotel Seoul and Jeju, Cho introduces case studies in four areas: strategic decision-making, talent and organizational culture, crisis response, and differentiation in service and products. He also emphasizes that successful innovation is rooted in deep understanding of customers and keen insight into gaps within the market. President Jung commented, "Every moment of the customer experience must be meticulously designed, and these differences ultimately provide the foundation for earning substantial trust from customers." He noted that the book offers a customer-experience-based competitive edge even in the AI era.

Lee Hosung, President of Hana Bank, introduced "War and the Presidents," authored by Steven M. Gillon, Professor Emeritus of History at the University of Oklahoma. This book addresses the choices made by seven Cold War-era U.S. presidents with military service—Dwight D. Eisenhower, John F. Kennedy, Gerald R. Ford, Richard Nixon, Lyndon B. Johnson, Ronald Reagan, and George H. W. Bush—and their resulting impact on the country. President Lee stated, "The experience of war became a driving force for America's progress, yet the overemphasis on the 'lessons of Munich'—that one must never surrender to communism—led to decisions such as expanding the unwinnable Vietnam War by framing the Cold War as a battle of good versus evil." He reflected, "Past successes can be a beacon guiding today’s decisions, but can also become a shadow that clouds one’s judgment. I am reminded once again that a leader's convictions and choices can alter the course of history for decades."

During his vacation this week, Jung Jinwan, President of Woori Bank, recommended "Be Happy On Your Own" by Buddhist Monk Beopjeong and "Translated Words of Buddha" by Japanese former monk and author Ryunosuke Koike. These books contain Buddhist teachings on agency in life, such as inner peace and focus on the present. They suggest the importance of concentrating on what is at hand now, instead of obsessing over past accomplishments or uncertain futures.

Kang Taeyoung, President of NH Nonghyup Bank, selected "How Philosophy Becomes a Weapon in Life" by Japanese strategist and author Shu Yamaguchi, and "Youth Bankruptcy" by Gi Tae Park, a lawyer specializing in restructuring and bankruptcy, as summer reads. On "How Philosophy Becomes a Weapon in Life," President Kang commented, "What matters is not having the answer, but making the best judgment when there is none." He noted, "The book cultivates insight into addressing complex business environments from various philosophical perspectives." Regarding "Youth Bankruptcy," he said, "It enables us to understand youth debt and economic hardship not merely as an individual's responsibility, but as part of a broader socioeconomic structure." He added, "It prompts reflection on the responsibilities and roles of financial institutions in society and reaffirms the value of responsible and sustainable finance. The book also highlights the importance of sound financial habits and credit management."

This content was produced with the assistance of AI translation services.