The government appears to be preparing to fill in top posts of multiple financial services companies with pro-government figures, with tenures of targeted firms CEOs set to expire starting in December. Such possible preparation for “parachute appointees,” meaning those who have been appointed into high-level positions due to their connections with the current government or ruling party, has been controversial as many of them lack the expertise and specifically related leadership experience required to oversee their respective organizations.
NongHyup Financial Group Chairman Son Hyun-hwan stressed the importance of the environmental element out of the so-called environmental, social and corporate governance (ESG) management principles, urging group subsidiaries to better cope with the challenges caused by climate change. NongHyup Financial announced Thursday that it held its Social Value and Green Finance Committee meeting the day before, which is the financial group s supreme governance body where ESG management strategies and action plans are examined and discussed.