Kwangsoo Kim, Chairman of NongHyup Financial, Solely Recommended as Next Chairman of the Korea Federation of Banks (Comprehensive)

Unanimous Recommendation... Starting 3-Year Term from Next Month 1st
"Veteran Financial Bureaucrat"

[Asia Economy Reporter Park Sun-mi] Kim Kwang-soo, Chairman of NH Nonghyup Financial Group, has been solely recommended as the next Chairman of the Korea Federation of Banks.

The Korea Federation of Banks held the 3rd meeting of the Chairman Candidate Recommendation Committee and the Board of Directors on the 23rd, and solely recommended Chairman Kim as the next Chairman candidate. Unanimously, Chairman Kim was selected as the 14th Chairman candidate of the Korea Federation of Banks and approved by the Board of Directors.

It is customary for the Korea Federation of Banks to present a single final candidate for chairman.

Previously, at a meeting on the 17th, the Korea Federation of Banks finalized a longlist of seven candidates for the next chairman. The longlist included Chairman Kim, former Democratic Party member Min Byung-doo, Lee Jung-hwan, President of the Korea Housing Finance Corporation, former Shinhan Financial Group President Shin Sang-hoon, former Nonghyup Bank President Lee Dae-hoon, former KB Kookmin Bank President Min Byung-duk, and former Hana Financial Group Vice Chairman Kim Byung-ho. However, on the 19th, former Nonghyup Bank President Lee Dae-hoon withdrew.

The Korea Federation of Banks stated, "We had in-depth discussions on the qualifications, abilities, and careers of the six candidates on the longlist, and as a result, unanimously selected Chairman Kim as the 14th Chairman candidate of the Korea Federation of Banks and approved it at the Board of Directors meeting."

Chairman Kim was evaluated to greatly contribute to the development of the banking industry, which faces internal and external uncertainties such as the prolonged COVID-19 pandemic and digital transformation, based on his extensive experience and outstanding insight into the banking industry.

Born in 1957, Chairman Kim graduated from Gwangju Jeil High School, Seoul National University’s Department of Economics, and the International Economics Department of the Paris Institute of Political Studies in France. He entered public service by passing the 27th Administrative Examination and served as Director of the Financial Services Bureau at the Financial Services Commission and as Director of the Financial Intelligence Unit. Since April 2018, he has been serving as Chairman of Nonghyup Financial Group.

The Korea Federation of Banks plans to hold a general meeting of members on the 27th to elect the next chairman. The current Chairman Kim Tae-young’s term ends on the 30th. If Chairman Kim is finally appointed as the next Chairman of the Korea Federation of Banks, he will assume the position from the 1st of next month and serve a three-year term until December 2023.

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