Min Kim, who has served as Open Bank’s president and CEO for the past 15 years, will step down on June 30 and assume the role of board chair starting July 1. With this leadership transition, Kim emphasized her commitment to practicing “supportive leadership” as she helps guide the bank through its next phase.
Her successor, Sangkyo Oh, currently the bank’s Chief Credit Officer (CCO), will take over as CEO. Longtime board chair Brian Choi will retire alongside Kim’s transition.
“I’m not sad—it actually feels refreshing,” Kim said of her decision to step down, expressing full confidence in the incoming CEO. “The environment around banks is becoming more complex and changes are accelerating. It’s time for a younger leader who can communicate effectively with staff.”
Kim’s career in banking spans 43 years, beginning in 1982 as a teller at the former Wilshire State Bank. Over the decades, she broke multiple glass ceilings, becoming the first Korean American woman to serve as a branch manager, executive vice president, and bank CEO. In 2006, she became the first female CEO of a Korean American bank when she led Nara Bank.
After stepping down during Nara Bank’s merger with Center Bank, Kim joined First Standard Bank—then on the brink of collapse—just three months later. She rebranded it as Open Bank and led its turnaround and rapid growth, ultimately making it one of the four publicly listed Korean American banks.
For Kim, Open Bank wasn’t just a job—it was a defining chapter of her life. As former board chair Brian Choi put it, she was “the person who changed the bank’s destiny.” Kim echoed that sentiment: “I came with the intention to pour everything I had learned into this bank—and I did. This was the most fulfilling period of my career.”
She attributes the bank’s success to its “ethical corporate culture.” By donating 10% of its net profits back to the community, Kim said, Open Bank created a value-driven environment that attracted top talent and fostered growth. “It took time for this culture to take root, but now every employee—including the CEO—protects it with pride,” she said.
Even after leaving the CEO role, Kim will remain actively involved in the organization. As chair of the board, she plans to offer support rather than direction. “It’s the board chair’s job to assist the executive team,” she said. “After serving as CEO for so long, I might have things to say—but I’ll support the new leader’s vision and keep my advice to myself unless asked,” she added with a laugh.
Kim credited Choi’s support as key to her success as CEO. “I believe I was able to meet my goals because Chairman Choi supported me. That’s how I learned the importance of supportive leadership, and now it’s my turn to do the same.”
Looking ahead, Kim noted that Oh—who is stepping into his first CEO role—will need to build his own team and pursue long-term goals. “Starting with a five-year term is a good decision,” she said, expressing confidence in his leadership.
Instead of walking into CEO office each morning, Kim will now take a seat at the boardroom table. Her new role is to watch the next generation of leadership pursue their own visions.
“An organization is powered by its people,” Kim said. “And the culture that moves people is built over time. I’ll do everything I can to ensure Open Bank’s culture continues to thrive.”
