Kim Kwang-soo named as sole candidate to head banking federation
Kim Kwang-soo, chairman of NH Nonghyup Financial Group, has been nominated as the sole candidate to become the Korea Federation of Bank’s 14th chairman.
Last week, the federation, which represents 22 banks in Korea, announced a list of seven candidates for the organization’s next leader. The list included Min Byung-doo, former head of the National Policy Committee, Lee Jung-hwan, CEO of the Korea Housing Finance Corporation, and Lee Dae-hoon, former head of NH Nonghyup Bank.
Lee Dae-hoon removed himself from contention last week.
“The committee for the nomination of the federation’s next chairman had an in-depth discussion with six candidates included in the long list,” the federation said Monday. “The committee unanimously agreed on Kim to be nominated as the next chairman.”
Kim is said to have been chosen due to his long experience in the banking business. He is expected to support Korean banks’ digitization amid the Covid-19 pandemic, according to the federation.
Kim graduated from Seoul National University’s economics department in 1981 and has served at various financial organizations in Korea, including the Financial Services Commission, after passing the civil service exam in 1983.
Incumbent Chairman Kim Tae-young’s term terminates on Nov. 30.
After Kim Kwang-soo’s nomination gets approved at the general meeting on Nov. 27, his term will start from next month and last for three years through December 2023.
BY JIN EUN-SOO [firstname.lastname@example.org]