Korea Federation of Banks narrows chairman candidates

Finance

Published: 17 Nov. 2020, 16:57

Korea Federation of Banks narrows chairman candidates

Kim Tae-young, chairman of the Korea Federation of Banks, receives questions from reporters after holding a meeting where he confirmed the long list of the federation's candidates for next chairman with the board at a hotel in Seoul on Tuesday. [NEWS1]

The Korea Federation of Banks released a list of seven candidates for its chairmanship Tuesday.

The federation's board, comprised of CEOs of 10 banks and current Chairman Kim Tae-young, confirmed the list at a second meeting to decide candidates. The candidates are Min Byung-doo, former head of the National Policy Committee; Kim Kwang-soo, chairman of NH Nonghyup Financial Group; Lee Jung-hwan, CEO of the Korea Housing Finance Corporation; Shin Sang-hoon, former CEO of Shinhan Financial Group; Lee Dae-hoon, former head of NH Nonghyup Bank; Min Byung-deok, former CEO of KB Kookmin Bank; and Kim Byung-ho, former vice chairman of Hana Financial Group.

Choi Jong-koo, former chairman of the Financial Services Commission, the country’s top financial regulator, and Kim Yong-hwan, former chairman of NH Nonghyup Financial Group, were considered but both asked not to be nominated.

“It could be finalized at the board meeting scheduled for next Monday,” Chairman Kim Tae-young told reporters on Tuesday morning after the meeting, “and if not it could take a couple of more days."

When asked about rumors that his term could be extended, Kim said, “I am not included on the long list," adding that he wants to bring his term to a successful conclusion.

Kim’s term ends on Nov. 30.

After the board selects a final candidate, the selection will be put to a vote by the 22 member banks of the federation.

BY JIN EUN-SOO [jin.eunsoo@joongang.co.kr]