New Bank's Chief Opposed
Labor union members of Kookmin Bank will try to nullify the appointment of Kim Jung-tae, the head of H&CB, as chief of the firm to be created by the merger of the two banks.The unionists said that the decision was made illegally and that they would file an injunction to stop Mr. Kim from taking office. They argued that the selection procedure was "faulty" because Mr. Kim was not chosen by a committee consisting of two nonstanding directors of the merged bank, as the merger agreement dictates.
An official from the merger committee insisted that the selection was valid.
with the Korea JoongAng Daily
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