Capital Com MENA Securities Trading LLC is regulated by the Capital Market Authority.
Open platformOpen platform

South Korean banks begin search for new association chief

By Maekyung News Service

The Korea Federation of Banks (KFB) has begun the process of selecting its next chairman, with former banking executives and senior government officials emerging as potential candidates to succeed incumbent Cho Yong-byoung.

The federation’s chairman recommendation committee held its first meeting by video conference at 8 a.m. Tuesday to launch the selection process, according to financial industry sources.

Cho’s term expires on Nov. 30, and the committee is expected to announce an initial list of candidates on Nov. 13.

Potential candidates from the private sector include Yoon Jong-kyoo, former chairman of KB Financial Group, and Park Jong-bok, former chief executive of Standard Chartered Bank Korea.

Former government officials reportedly under consideration include Yoon Jong-won, former chairman and chief executive of Industrial Bank of Korea; Lee Chan-woo, chairman of NH Financial Group; and Eun Sung-soo, former chairman of the Financial Services Commission.

The federation has historically alternated between leaders drawn from the private banking sector and those with backgrounds in government service.

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.