Outgoing KB Financial Group Chairman Yoon Jong-kyoo and former Shinhan Financial Group Chairman Cho Yong-byoung joined a pool of six candidates vying to become the next leader of the Korea Federation of Banks (KFB), the federation said on Nov. 10.
CEOs of the country’s major banking groups, both active and retired, are drawing attention as potential candidates to next lead the Korea Federation of Banks (KFB), a lobby group representing lenders, according to industry sources, Tuesday.
Financial Services Commission (FSC) Vice Chairman Kim So-young is setting off for Central Asia with leaders of domestic financial firms, accelerating financial regulators efforts to support the firms overseas expansion. According to the FSC, Kim will visit two Central Asian countries - Uzbekistan and Kyrgyzstan - from Tuesday to Friday. This will be Kim s first time taking action to support financial firms entering the global market, following the Financial Supervisory Service (FSS) chief s recent five-day tour of Southeast Asia.
The Financial Supervisory Service (FSS) has begun to look into ways to induce further competition in the local banking industry, aiming to break up the current oligopolistic system.
Korea Federation of Banks Chairman Kim Kwang-soo met Luxembourg Finance Minister Yuriko Backes and discussed ways of cooperation in the banking sectors of the two countries, the federation announced on Wednesday. The areas of topics discussed ranged from conventional offline banking to digital banking, wealth management, and environmental, social and corporate governance (ESG) practices.