New Savings Bank Association Chairman Elected: 'Private Sector' Oh Hwa-kyung, CEO of Hana Savings Bank

Oh Hwa-kyung, CEO of Hana Savings Bank

[Asia Economy Reporter Song Seung-seop] Oh Hwa-kyung, CEO of Hana Savings Bank, has been elected as the new chairman of the Korea Federation of Savings Banks. This is the first time a chairman has been elected from the private savings bank sector.

On the 17th, the Korea Federation of Savings Banks held an extraordinary general meeting at The-K Hotel in Seocho-gu, Seoul, with representatives from 79 member savings banks gathered, and announced that CEO Oh was elected as the new chairman.

To be elected chairman of the Korea Federation of Savings Banks, a candidate must receive at least two-thirds of the votes from attending members. Chairman Oh received 53 votes (67.9%) out of 78 valid votes. He will begin his three-year term starting from that day.

Chairman Oh previously served as CEO of Aju Savings Bank and Aju Capital, and has been CEO of Hana Savings Bank since 2018.

Until now, the chairman position of the Korea Federation of Savings Banks has mostly been held by former government officials. Among past chairmen, Kwak Hoo-seop, the 10th chairman, and Lee Soon-woo, the 17th chairman, were from the private sector, but Oh is the first chairman from the savings bank industry itself. Industry insiders say that Oh’s extensive experience in finance and strong network were seen as his strengths.

Meanwhile, Hwang Jeong-wook, former head of the Financial Supervisory Service’s Gyeongnam branch, was elected as the executive director of the federation on the same day.

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