Kim Seok-dong, Former Financial Services Commission Chairman, Appointed as Chairman of Hanjin KAL Board

Jowon Tae Reappointed as Chairman and CEO of Hanjin Kal

[Asia Economy Reporter Yu Je-hoon] Kim Seok-dong, a former Financial Services Commission chairman and outside director, has been appointed as the chairman of the board of directors of Hanjin KAL, the holding company of Hanjin Group.

Hanjin KAL held a board meeting on the morning of the 2nd and announced that Kim, who was appointed as an outside director at the regular shareholders' meeting held on the 27th of last month, was appointed as the chairman of the board.

Chairman Kim is a financial and administrative expert who has served as the Financial Services Commission chairman and Deputy Minister of the Ministry of Finance and Economy. Hanjin KAL explained, "Chairman Kim's experience in resolving the savings bank insolvency crisis in 2011 and stabilizing the financial market is expected to play a significant role in enhancing corporate value through improving the group's financial structure."

Hanjin Group expects that with Chairman Kim's appointment, the independence of the board will be further strengthened, and the transparency of management activities will be increased.

Meanwhile, on the same day, the Hanjin KAL board reappointed Chairman Cho Won-tae, who was appointed as an inside director, as the CEO of Hanjin KAL.

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