Next Suhyup Bank President Race Heats Up with 5 Candidates... No Clear Front-runner

[Asia Economy Reporter Kim Min-young] Five candidates have thrown their hats into the ring for the next Sh Suhyup Bank president. Amid growing public opinion that the president should come from within Suhyup Bank, there are criticisms that the candidates lack weight. There is a possibility that the appointment process will be delayed, as was the case with the previous selection. The current president, Lee Dong-bin, did not apply for the position.

According to the financial sector on the 1st, five people applied for the next Suhyup Bank president position, including three current and former executives from within the bank and two from outside.

They are Kim Jin-gyun, Senior Vice President; Kim Cheol-hwan, Executive Vice President; Kang Myung-seok, former Standing Auditor of Suhyup Bank; Ko Tae-soon, former CEO of NH Nonghyup Capital; and Son Gyo-deok, former president of BNK Gyeongnam Bank.

Senior Vice President Kim, promoted at the end of last year, is a genuine ‘Suhyup man’ who joined the Suhyup Central Association in 1992 and has held positions such as head of the corporate review team, head of Apgujeong Station branch, and head of the Chungcheong regional finance headquarters.

Executive Vice President Kim has been with the Central Association since 1990, serving as head of the funds department and head of the sales department, and was promoted to vice president when Suhyup Bank was spun off in 2016.

Former Standing Auditor Kang joined the Central Association in 1986 and served as a standing director and CEO of Suhyup Noryangjin Fisheries. This is his ‘second attempt’ following the 2017 president recruitment.

Among the external candidates are those from Nonghyup and regional banks. Ko Tae-soon, former CEO of NH Nonghyup Capital and a graduate of Nonghyup University, joined the Nonghyup Central Association in 1979 and built his career in banking and capital sectors. He ran for the chairman of the Credit Finance Association last year but was unsuccessful.

Son Gyo-deok, former president of Gyeongnam Bank, joined Gyeongnam Bank in 1978 and served as president for about four years starting in 2014. Since March, he has been an outside director at KDB Industrial Bank.

The Suhyup Bank President Recommendation Committee consists of five members: one each from the Ministry of Strategy and Finance, the Financial Services Commission, and the Ministry of Oceans and Fisheries, plus two recommended by the Suhyup Central Association (former Suhyup cooperative heads). Approval requires the consent of at least four members.

During the 2017 recruitment, conflicts between government and Central Association members delayed the appointment of the president for over six months. Given the lack of a clear frontrunner this time, if opinions among committee members diverge, the appointment process may again be delayed.

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