Hana Financial chair may clinch fourth term
Posted : 2021-02-16 16:19
Updated : 2021-02-16 16:54
From left are Hana Financial Group Chairman Kim Jung-tai, Hana Financial Group Vice Chairman Ham Young-joo, Hana Financial Group Deputy President Park Sung-ho and former Citibank Korea CEO Park Jin-hei.
By Lee Kyung-min
Hana Financial Group Chairman Kim Jung-tai, 69, was among four candidates shortlisted for the group s next chairman, the group said Tuesday.
The other three are Vice Chairman Ham Young-joo, Deputy President Park Sung-ho and former Citibank Korea CEO Park Jin-hei.
The three-term Hana Financial chairman making the list is in line with industry expectations that he would be able to clinch a fourth term, which will be limited to one year due to his age. The group s rule stipulates that its chairman must be under 70 years of age.
Hana Financial chief will likely extend term
Posted : 2021-02-10 16:34
By Lee Min-hyung
Hana Financial Group headquarters in Seoul / Courtesy of Hana Financial GroupHana Financial Group Chairman Kim Jung-tai will likely have his tenure extended next month, as the group needs to pursue stable growth amid uncertainties due to COVID-19. Kim s lack of legal risk also raises the likelihood for a potential fourth term.
The financial holding firm s chairman recommendation committee plans to draw up a shortlist by the end of February, and a possible new term for Kim is expected to be confirmed during the group s shareholders meeting slated for March.
Korean banks speed up corporate culture reforms to survive
Posted : 2021-01-31 15:18
By Lee Min-hyung
Korea s financial firms are ramping up efforts to reform their rigid, hierarchical corporate cultures and break away from long-standing conservatism by streamlining their reporting mechanisms as well as abolishing bureaucratic ranks and outside hiring.
This is seen as a desperate move to embrace rapidly changing business conditions as digital banking trends have been accelerated by the COVID-19 pandemic.
Major banks here identify changing their working environments as a prerequisite, in order to root out their notorious top-down corporate culture and embrace the digital paradigm shift that s taking place in the banking industry.