KB Financial Group lists six candidates for next chairman

KB Financial Group headquarters. [Courtesy of KB Financial Group]

South Korea’s KB Financial Group Inc. on Tuesday short-listed six candidates for the position of its next chairman, including four internal nominees.

According to the nomination committee on Tuesday, the four internal candidates are Park Jeong-rim, head of the capital market, corporate and investment banking business and asset management group at KB Financial, and three others that were identified earlier – Yang Jong-hee, Lee Dong-cheol, and Hur Yin, who all serve as co-vice chairmen of the group.

The disclosure of the two external candidates have been withheld at their request.

KB Financial Group is expected to disclose all candidates in its second shortlist, which will be further narrowed down to three.

The nomination committee finalized the first shortlist by verifying the qualifications and capabilities of 20 internal and external candidates, the group said.

The qualifications for the chairman position set by the committee include work experience and expertise, leadership, integrity, shared vision, and values with KB Financial Group and commitment to sustainable management in both the short and long terms.

Financial circles believe that the competition will be fierce among the three vice chairmen as they have proven their performance at the holding company and its major affiliates.

Park, a new internal candidate to join the first shortlist, is also considered a strong candidate as she is the first female CEO of a Korean securities firm and leads the capital market, asset management and corporate investment banking business.

As for the external candidates, although their identities have not been disclosed this time, they are expected to be big financial figures or former government officials.

The second shortlist will be released on August 29.