The Second Bank Federation Election Committee Meeting... Next President Candidates Emerge

Longlist Confirmed at 2nd Selection Committee
Chairman Kim Taeyoung's Term Ends on the 30th

[Asia Economy Reporter Sunmi Park] On the morning of the 17th, the next candidate pool for the chairman of the Korea Federation of Banks is expected to be revealed.

According to the financial sector, Kim Tae-young, chairman of the Korea Federation of Banks, and major bank presidents will meet for breakfast at a hotel near the Federation of Banks to select the next chairman candidate pool (longlist).

During the first meeting held on the 11th, discussions were held regarding the next chairman candidate pool, but the longlist was not created. The bank presidents exchanged overall opinions, such as recommending one candidate each at the previous meeting, and postponed the formation of the longlist to this second meeting.

It is customary for the Federation to present a single final candidate for chairman. Since Chairman Kim’s term ends on the 30th and time is limited, the longlist is expected to be finalized on this day, followed by a swift process to select the final sole candidate.

Currently, the leading candidates mentioned in the industry include Min Byung-doo, former member of the Democratic Party of Korea, Lee Jeong-hwan, president of the Korea Housing Finance Corporation, and Kim Kwang-soo, chairman of NH Nonghyup Financial Group. Other names being mentioned are Park Jin-hoe, former Citibank Korea president; Shin Sang-hoon, former Shinhan Financial Group president; Lee Dae-hoon, former Nonghyup Bank president; Min Byung-deok, former KB Kookmin Bank president; and Kim Byung-ho, former vice chairman of Hana Financial Group. Some also raise the possibility of Chairman Kim’s reappointment.

Previously mentioned leading candidates such as Choi Jong-ku, former chairman of the Financial Services Commission; Kim Yong-hwan, former chairman of NH Nonghyup Financial Group; and Yoon Dae-hee, chairman of the Korea Credit Guarantee Fund, have recently made it clear that they have no intention of pursuing the next chairman position.

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