Son Byunghwan, NH Financial Vice President, Appointed as New NH Bank President

[Asia Economy Reporter Kwon Haeyoung] Son Byunghwan, Vice President of NH Nonghyup Financial Group, has been nominated as the next president of Nonghyup Bank.

According to Nonghyup Financial on the 17th, the Executive Candidate Recommendation Committee (ECRC) held a meeting that day and appointed Vice President Son as the next president of Nonghyup Bank. After an interview with Vice President Son, the ECRC will make the final decision on the 20th and will approve the appointment of the new Nonghyup Bank president at the extraordinary shareholders' meeting on the 24th.

In a phone call with reporters that day, when asked about the future business direction of Nonghyup Bank, Vice President Son said, "I still have an interview schedule left, so I will do my best to prepare for the interview," and added, "I will reveal specific plans once the personnel appointment process is completed."

On the same day, the Nonghyup Financial ECRC also began the process of selecting the next chairman of Nonghyup Financial. The term of Kim Kwangsoo, chairman of Nonghyup Financial, expires on the 28th of next month.

The financial sector is paying attention to whether Chairman Kim will be reappointed. This is because the appointment of the Nonghyup Financial chairman is inevitably influenced by the election of the new Nonghyup Central Association president. However, since the chairman of Nonghyup Financial has been an external figure rather than someone from within Nonghyup, and considering the precedent where former chairman Kim Yonghwan was guaranteed an additional one-year term after a two-year term, there is an analysis that Chairman Kim’s reappointment is highly likely.

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