Kim Jeong-tae, Chairman of Hana Financial Group, Secures Reappointment... Term Set for One Year

Hana Financial Group's Nomination Committee Recommends Sole Candidate
Final Decision at Next Month's Board Meeting and General Shareholders' Meeting

[Asia Economy Reporter Kiho Sung] Kim Jung-tae, Chairman of Hana Financial Group, has succeeded in his reappointment.

The Hana Financial Group Chairman Candidate Recommendation Committee (Chairman Committee) held a meeting on the 24th and announced that it recommended Chairman Kim as the sole candidate for the next CEO and Chairman.

The Chairman Committee had selected a final pool of four candidates on the 15th, including three internal candidates?Chairman Kim, Vice Chairman Ham Young-joo of Hana Financial, Vice President Park Sung-ho of Hana Bank?and one external candidate, former Korea Citibank President Park Jin-hoe. After conducting in-depth interviews with the candidates today, the committee finalized the sole candidate for the next CEO and Chairman for a one-year term extension.

On this day, the Chairman Committee conducted a thorough evaluation of each candidate through Q&A based on the interview assessment criteria set forth in the ‘CEO and Chairman Succession Plan and Candidate Recommendation Procedure,’ which included entrepreneurial spirit, expertise and experience, global mindset, vision and mid-to-long-term management strategy, networks, and other qualifications.

Yoon Sung-bok, Chairman of the Hana Financial Group Chairman Candidate Recommendation Committee, stated, “We carefully evaluated the candidates by addressing concerns raised by shareholders, regulatory authorities, and those closely watching Hana Financial Group. In a situation where domestic and international economic uncertainties persist due to the aftermath of COVID-19, we reached a consensus that the current Chairman Kim Jung-tae is the best candidate, as he can ensure organizational stability, respond proactively to the rapidly changing financial market, and achieve sustainable growth for the group in global and ESG sectors.”

Additionally, Chairman Yoon said, “The committee highly evaluated that Chairman Kim Jung-tae has led Hana Financial Group stably so far and has been recognized for his capabilities by shareholders, customers, and employees through outstanding performance.”

Chairman Kim Jung-tae, who was recommended as the sole candidate today, is expected to be officially appointed as the next CEO and Chairman for a one-year term after the board meeting and the regular shareholders’ meeting to be held next month.

However, this term will last only until March next year, as the internal governance rules of Hana Financial prohibit the chairman from exceeding the age of 70.

Chairman Kim joined Seoul Bank in 1981 and has been in the banking sector for over 40 years. He served as President of Hana Daetoo Securities in 2006, President of Hana Bank in 2008, and assumed the chairmanship of Hana Financial in 2012. He succeeded in reappointments in 2015 and 2018, leading Hana Financial for nine years.

Originally, Chairman Kim had indirectly and directly expressed his intention not to seek additional reappointment after his third term. However, as all the leading candidates for the next chairman were exposed to ‘judicial risks’ and the prolonged COVID-19 pandemic increased uncertainty in the financial environment, the opinion that stable leadership was necessary gained support, leading to his successful reappointment.

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