[Announcement] DGB Financial Group Executive Appointments and Organizational Restructuring

Establishment of ESG Committee within the Board of Directors

[Asia Economy Reporter Sunmi Park] DGB Financial Group announced on the 28th that it held the Group Executive Personnel Committee, Group Executive Candidate Recommendation Committee, and Board of Directors meetings and carried out executive personnel appointments.

In the holding company personnel, Executive Director Choi Taegon (Group Sustainability Management General Manager) and Executive Director Kim Youngseok (Group Management Control General Manager) were each promoted to Senior Executive Director, and Executive Director Hwang Byeongwoo (Group Future Planning General Manager) was newly appointed. The holding company’s organizational structure established the Group Management Control General Manager and Group Future Planning General Manager at the headquarters level to focus on the management control functions of affiliates. In particular, an ESG Committee was newly established within the board to lead the group’s sustainable growth.

Among the CEOs of non-bank subsidiaries whose terms expire at the end of this year, CEO Seo Jeongdong of DGB Capital, CEO So Geun of DGB UPay, and CEO Park Daemyeon of DGB Credit Information were retained by the Group Executive Candidate Recommendation Committee after comprehensively evaluating the affiliates’ management performance, management strategies, and future growth foundation. Due to the increase in non-face-to-face financial services and the strengthened importance of personal information protection, Kim Sanggeun, the current Chief Information Security Officer (CISO) of Daegu Bank, was appointed as CEO of DGB Data System.

At DGB Daegu Bank, Executive Directors Seo Munseon (Head of Management Planning Headquarters), Lee Yonghan (Head of Funds Market Headquarters), Kim Youngwoon (Head of Marketing Headquarters), and Do Manseop (Head of ICT Headquarters) were each promoted to Deputy Head of Bank. Seven executives?Executive Directors Jang Munseok (Head of Sales Support Headquarters), Lee Sanggeun (CISO), Jang Hwal-eon (Head of Investment Banking Headquarters and Metropolitan Headquarters), Kim Cheolho (Head of Gyeongbuk Headquarters), Lee Haewon (Head of Credit Planning Headquarters), Heo Dan (Head of Credit Support Headquarters), and Park Seonghee (Head of East Sea and Busan-Ulsan-Gyeongnam Headquarters)?were newly appointed as Executive Directors.

To streamline headquarters departments, the bank will reduce from 12 business headquarters, 6 regional headquarters, and 50 headquarters departments to 10 business headquarters, 5 regional headquarters, and 43 headquarters departments, cutting 2 headquarters, 1 regional headquarters, and 7 departments. To strengthen responsibility and authority centered on practitioners and increase work speed, a ‘56-team’ system will be operated within departments. As a major part of the organizational restructuring, the Public Finance Headquarters, the only one among regional banks, will be abolished. Treasury contracts will be strengthened through a dedicated department in the Institutional Business Division, and social contribution functions will be integrated and handled by the Social Contribution and Public Relations Department within the Management Planning Headquarters.

Following the abolition of headquarters and reclassification of public branches, the Gyeongbuk Western Headquarters will be renamed Gyeongbuk Headquarters, and the Gyeongbuk Eastern Headquarters will be renamed East Sea Headquarters. Daegu 1st and 2nd Headquarters will be merged into Daegu Headquarters.

Chairman Kim Taeo stated, “To maximize the bank’s management autonomy, this personnel appointment actively reflected the bank president’s intentions,” and added, “Going forward, under clear personnel principles, we will select talent based on fair and rational criteria, and by thoroughly fostering future CEOs, we will develop into a sustainable financial group that grows together with our executives and employees.”

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