KB Financial Group Chairman Candidates Narrowed Down to Three: Yang Jong-hee, Heo In, and Kim Byung-ho (Summary)

From the left, Yang Jong-hee and Heo In, Vice Chairmen of KB Financial Group, and Kim Byung-ho, Chairman of Vietnam HD Bank

The KB Financial Group Chairman Candidate Recommendation Committee (hereinafter referred to as the Recommendation Committee) announced on the 29th that it has narrowed down the next chairman candidates to three.

The three candidates include two insiders, Yang Jong-hee and Heo In, Vice Chairmen of KB Financial Group, and one outsider, Kim Byung-ho, Chairman of Ho Chi Minh City Development Bank (HD Bank) in Vietnam.

Yang, who was the first to be promoted to Vice Chairman, graduated from Seoul National University with a degree in Korean History and previously served as Head of the Insurance Division at KB Financial Group as well as President of KB Insurance. His strength lies in his extensive experience in holding management and strategic roles within the holding company.

Heo has experience leading the group's core business, banking. He served as President of Kookmin Bank and graduated from Seoul National University with a degree in Law. He is also one year junior to President Yoon Suk-yeol.

Kim is an external candidate who served as President of Hana Bank from February to August 2015 and subsequently as Vice Chairman of Hana Financial Group from September 2015 to March 2018. Since April last year, he has been serving as Chairman of Ho Chi Minh City Development Bank.

Meanwhile, Yoon Jong-kyu, Chairman of KB Financial Group, announced his intention to retire on the 6th of this month. Chairman Yoon successfully renewed his term twice in 2017 and 2020 and is currently serving his third term, which is set to expire on November 20. The Recommendation Committee plans to conduct a second round of in-depth interviews with the three candidates on the 8th of next month and finalize the candidate thereafter.

Kim Kyung-ho, Chairman of the Recommendation Committee, stated, "We will do our best to ensure that the most suitable candidate to lead KB Financial Group's sustainable growth is appointed as the next chairman."

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