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.
One of the key areas that Korean banks are lagging behind global financial firms is corporate governance. Along with the country s complex regulations, a less-than-effective system of checks and balances has been cited as a key factor resulting in the undervaluation of stocks issued by Korean financial institutions compared to their earnings performances.
Woori Financial Group reportedly longlisted eight candidates for its next chairman, after incumbent Chairman Son Tae-seung expressed his intention of stepping down from the post at the end of his term. According to sources in the financial industry, the candidates include five executives from within its ranks, and three outside figures. Among them are Woori Bank CEO Lee Won-duk and former Financial Services Commission Chairman Lim Jong-ryong.
Woori Financial Group Chairman Son Tae-seung has officially decided to wrap up his four-year term ending in March this year, and not to seek another term as group chief. “Today, I d like to say that I am also joining a generational shift movement that s been trending in the local financial industry,” Son said in an official statement released Wednesday.
LAS VEGAS - Top executives and heirs of family-controlled Korean conglomerates took advantage of the 2023 Consumer Electronics Show (CES) to expand their personal networks and seek the new growth engines for their companies. Making their way through the crowds in the 230,000 square meters of exhibition space at the Las Vegas Convention Center, they did not just promote technologies and products of their own companies at the four-day tech show, but also paid visits to the various exhibition booths of other Korean firms.