Imunhwan Appointed as New CEO of K Bank

[Asia Economy Reporter Kim Hyo-jin] Internet-only bank K Bank announced that Lee Moon-hwan (photo), the new president, officially took office on the 31st following the regular shareholders' meeting.

Lee, a former CEO of BC Card, joined KT in 1989 and held positions such as Head of New Business Development, Head of Corporate Planning, and Head of Corporate Business Division. Since 2018, he has led BC Card and is recognized for spearheading innovative growth based on the convergence of financial ICT.

President Lee has been entrusted with the important task of resolving K Bank's financial situation, which has deteriorated to the point where new loan operations are impossible. This comes after the amendment to the Special Act on Internet-Only Banks, which was expected to enable KT's major shareholder participation and open the way for K Bank's revival, failed to pass the National Assembly.

A representative of K Bank's Executive Candidate Recommendation Committee said regarding President Lee's recommendation, "He is well known as a manager with rich experience in the financial ICT convergence field, who overcomes crises head-on with excellent strategy and steadfast management, achieving remarkable results."

The representative added, "He is also a collaborative leader who values substantive communication over formality, making him the right person to successfully resolve K Bank's current issues such as the capital increase drive."

This content was produced with the assistance of AI translation services.