The newly-appointed leader of the Korea Federation of Banks (KFB), Cho Yong-byoung, urged lenders to develop mutual growth plans that meet not only their objectives, but the public s expectations as well. He also asked the banking industry to reflect on whether they have fulfilled their social responsibilities.
Heads of financial authorities have once again called on domestic financial groups to take on greater social responsibility, pressuring the companies to lower the burden on small and medium-sized business owners stemming from soaring interest rates.
Shinhan Financial Group's former Chairman Cho Yong-byoung has emerged as the final nominee for the chairman position of the Korea Federation of Banks to head the association for the next three years. In a meeting held on Thursday, the KFB's Chairman Candidate Recommendation Committee chose Cho as the final candidate from a pool of six contenders for the position. The KFB is slated to hold a meeting on Nov. .