Central Savings Bank Association Chair Candidates Oh Hwa-kyung and Lee Hae-seon Face Off... Candidate Registration Closed

[Asia Economy Reporter Lim Chun-han] The next president of the Korea Federation of Savings Banks will be contested between Oh Hwa-kyung, CEO of Hana Savings Bank from the industry, and Lee Hae-seon, former Market Surveillance Committee Chairman of the Korea Exchange from the government sector.

According to the Korea Federation of Savings Banks on the 4th, Oh and Lee registered as candidates for the next president by 6 p.m. that day. However, both must pass the eligibility screening by the Presidential Recommendation Committee (회추위) to officially become candidates on the 14th. The committee consists of seven members: four current savings bank CEOs, two external experts, and one former or current federation president. The election will be held on the 17th of this month, with 79 savings banks each exercising one vote.

CEO Oh is an industry insider who previously served as CEO of Aju Savings Bank and Aju Capital, and has been leading Hana Savings Bank since 2018. Former Chairman Lee passed the 29th Administrative Examination and held positions such as Director of the Banking Division at the Financial Services Commission, Director of the Policy Bureau for Small and Low-income Finance, and served as the head of the Financial Intelligence Unit (FIU) and Market Surveillance Committee Chairman at the Korea Exchange.

Both candidates pledged to address issues such as reducing deposit insurance premiums and resolving polarization. CEO Oh emphasizes the importance of field experience, while former Chairman Lee highlights strengths in communication with financial authorities.

Historically, candidates from the government sector have tended to dominate the Korea Federation of Savings Banks presidential elections. Only former president Lee Soon-woo was an industry insider.

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