Next Goddess Financial Association Chairman Race Narrowed to '3-Way Battle'... 1 Civilian vs 2 Officials Competition

Former Association Chairman Promoted to Financial Services Commission Chairman... Growing Prestige Sparks Interest: Min or Gwan?

[Asia Economy Reporter Yu Je-hoon] The competition for the next president of the Credit Finance Association has narrowed down to a three-way race among Nam Byeong-ho, former CEO of KT Capital; Park Ji-woo, former CEO of KB Capital; and Jeong Wan-gyu, former president of Korea Securities Finance.

The Credit Finance Association announced on the 23rd at 2 p.m. that it held the first presidential candidate recommendation committee meeting and selected Nam, Park, and Jeong as the final interview candidates (shortlist) from among six candidates who challenged the presidency.

The Credit Finance Association selects one final candidate through the recommendation committee and appoints the new president through a general meeting. However, if there are five or more candidates, the first recommendation committee meeting is held to create a shortlist, followed by a second recommendation committee meeting to select the final candidate. Fourteen directors (7 from card companies, 7 from capital companies) and one auditor attended the first recommendation committee meeting held that day.

Amid interest in the public-private (民官) confrontation, among the three final interview candidates, the bureaucrats are former CEO Nam and former president Jeong. Nam is a 37th administrative examination pass and served as head of the International Cooperation Team at the Financial Services Commission. Jeong is also a 34th administrative examination pass and served as the Director of Small and Micro Finance Policy at the Financial Services Commission. Park, from the private sector, made it to the final candidate group. Park has held various positions including Vice President of the Credit Card Business Group at KB Kookmin Bank, Senior Vice President, Acting Bank President, and CEO of KB Capital.

Meanwhile, they will undergo interviews at the second recommendation committee meeting scheduled for the 6th of next month. Based on the interview results, the recommendation committee plans to finalize a single candidate and recommend them to the general meeting.

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