KTB Financial Group Executive Personnel Changes... Lee Byung-chul Appointed Group Chairman After 5 Years

Lee Byung-chul, Chairman and CEO of KTB Financial Group (Provided by KTB Financial Group)

[Asia Economy Reporter Minwoo Lee] KTB Financial Group has appointed Lee Byung-chul, Vice Chairman and CEO of KTB Investment & Securities, as the group chairman, among other executive personnel changes.

KTB Financial Group announced on the 25th that it held a shareholders' meeting and board of directors meeting to implement these personnel changes.

Lee Byung-chul, who took office as CEO of KTB Investment & Securities in 2016, has risen to group CEO and chairman after five years. Since his appointment, he has been credited with establishing a stable profit structure for each affiliate and laying the foundation for the group's mid- to long-term growth through bold structural reforms. Based on performance growth, he pursued shareholder-friendly management and last year declared a common stock dividend for the first time in 18 years. This year, he continues to enhance shareholder value by deciding on consecutive dividends.

Choi Seok-jong, CEO of KTB Investment & Securities, was promoted to Vice Chairman and inside director. Choi was recognized for achieving record-high profits for two consecutive years starting in 2019, following steady growth during his five years as CEO. Vice Chairman Choi will lead efforts to strengthen the group's competitiveness centered on securities and oversee ESG (Environmental, Social, and Governance) management.

As his successor, Lee Chang-geun, head of the IB division, was appointed as an inside director and promoted to the new CEO. Lee joined KTB Investment & Securities at its inception in 2009. With 32 years of experience in the financial investment industry, he has significantly contributed to the company's growth by serving in bond and corporate sales as well as leading the IB division.

Shin Jin-ho, CEO of KTB Network, was also promoted to Vice Chairman. As a first-generation venture investment expert in Korea, he has led KTB Network as CEO for the past 13 years, elevating the company to a top-tier venture capital (VC) firm in the industry. Last year, the company recorded a net profit of 35.8 billion KRW, achieving its highest-ever profit.

Kim Chang-gyu, Vice President, was promoted to President and appointed as the new CEO. Kim has been with the company for 27 years since 1994 and is known for playing a pivotal role in major investments. Going forward, he and Vice Chairman Shin will jointly manage the company as co-CEOs.

Meanwhile, at the KTB Investment & Securities shareholders' meeting held that day, all proposed agenda items were approved as originally planned. A cash dividend of 150 KRW per common share was decided. For redeemable convertible preferred shares (RCPS), 35.1 billion KRW will be paid through partial redemption and dividends, and all redeemed shares will be canceled. Attorney Lee Hyuk was appointed as the new outside director.

A KTB Financial Group official explained, "We plan to maximize synergy through strengthened collaboration among affiliates and to enhance ESG management while discovering new business areas."

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