Bin Daein Confirmed as Final Candidate for BNK Financial Chairman... "Chose Management Continuity and Organizational Stability"

BNK Financial Group has chosen organizational stability. Bin Daein, the current Chairman of BNK Financial Group, has been nominated as the next chairman.

The Executive Candidate Recommendation Committee of BNK Financial Group conducted in-depth interviews on December 8 and, through a committee vote, recommended the current chairman, Bin Daein, as the next chairman. Immediately afterward, the board of directors convened and confirmed him as the final candidate for the next chairman.

The Chairman of the BNK Financial Group board explained the background of the recommendation at a press briefing held right after the board meeting, stating, "We focused on ensuring continuity in group management and organizational stability, not only in terms of financial performance based on a risk management approach, but also given the ongoing local economic downturn and the lingering impact of project financing (PF) insolvencies."

He added, "Another key reason for the appointment was Mr. Bin's understanding of the region, which is set to be promoted to a maritime capital following the relocation of the Ministry of Oceans and Fisheries, as well as his ability to respond to government policies such as productive finance." He further noted, "His positive evaluation was also due to his contribution to raising not only the stock price but also the corporate value through various value-up programs, including shareholder return policies."

Bin Daein, Chairman of BNK Financial Group.

The board stated, "This management succession process was about finding the most suitable candidate to lead the group to the next level, based on a clear understanding of BNK's status and role in the region, as well as the candidate's future vision and management capabilities as chairman." The board also requested, "Over the next three years, we hope he fulfills his mission through open communication with various internal and external stakeholders."

After the board of directors confirmed the final candidate, a press briefing was held, presided over by the chairman of the board. At this event, the background and criteria for the final candidate's recommendation and appointment, as well as a progress report on the CEO succession process that took place over the past two months, were presented.

The chairman of the Executive Candidate Recommendation Committee explained the basic direction for managing the pool of candidates and the progress made so far. He provided a step-by-step account, starting from the initiation of the management succession process in October, the selection of the first and second rounds of candidates, and up to the recommendation of the final candidate.

The committee chairman stated, "We took sufficient time and held multiple meetings to find the best candidate for BNK. We respected the various opinions and interests raised during the appointment process, and we will continue to work to strengthen the trust of shareholders, customers, the local community, and other stakeholders."

The current chairman, Bin Daein, who has been selected as the final candidate, is expected to be officially appointed as the next chairman and CEO following the regular shareholders' meeting and board meeting in March next year.

BNK Financial Group