Chang Min-young named next head of Industrial Bank of Korea

IBK Industrial Bank of Korea said Thursday that Chang Min-young, chief executive of IBK Asset Management, has been nominated as its next president.

According to the Financial Services Commission, Chairman Lee Eok-won formally proposed Chang as the new head of IBK. Under the Act on the Industrial Bank of Korea, the bank’s president is appointed by the president of South Korea following a recommendation by the commission.

Born in 1964, Chang holds a bachelor’s degree in German language and literature from Korea University and a master’s degree in business administration from Pennsylvania State University. He joined IBK in 1989 and has since held a series of key positions, including head of the treasury division, director of the IBK Economic Research Institute, head of the Gangbuk regional headquarters, and chief of the risk management group at vice president level.

The commission said Chang is widely regarded as a seasoned finance professional with deep expertise in financial markets and risk management. “With nearly 35 years of experience at IBK and its asset management arm, he has a strong understanding of the bank and is expected to provide stable leadership,” the FSC said. It added that Chang was selected for his ability to strengthen financial support for small and midsize enterprises and self-employed business owners while leading a broader shift toward more productive finance.