Lim Jong-ryong (Yonhap News)
Nonghyup Financial Group said Thursday that the group has named former senior government official Lim Jong-ryong as its chairman.
Lim’s chairmanship will go through final verification the following day at the board of directors’ meeting, the group said.
Lim, 54, served as the vice minister of the Ministry of Strategy and Finance in April 2010, before leading the Prime Minister’s Office from September 2011.
Despite concerns about the group’s general exclusiveness for outsiders, NongHyup Financial showed high expectations for Lim, citing his “rich experience and professionalism as an economic bureaucrat.”
Lim will replace current Nonghyup Financial chairman Shin Dong-kyu, who will officially resign on June 10.
By Chung Joo-won (joowonc@heraldcorp.com)