The Industrial Bank of Korea (IBK) and BNK Financial Group are moving to reshuffle their top management. This will be the first major shakeup in the financial sector as the year-end organizational reform period draws closer. IBK CEO Yoon Jong-won ends his three-year tenure in January 2023. He has expressed his intention to step down from the post without extending his term.
Five major financial groups here have decided to provide ample liquidity worth 95 trillion won ($67 billion) by the end of this year in a bid to ease a bond market crunch and stabilize local financial markets. During a meeting with Financial Services Commission (FSC) Chairman Kim Joo-hyun on Tuesday morning, the chairmen of the five groups pledged to inject a total of 73 trillion won into financial markets, while pooling another 12 trillion won into a bond market stabilization fund and another 10 trillion won for their group subsidiaries.