FSC recommends new IBK CEO

The Financial Services Commission said Friday it has recommended Kim Do-jin, vice president of management strategy division at the Industrial Bank of Korea as the new CEO for the state-run bank supportive of small and mid-sized enterprises.

However, when Kim will take over the leadership is unclear because the FSC’s recommendation needs an approval from Cheong Wa Dae. 

Kim Do-jin, vice president of management strategy division at the Industrial Bank of Korea (IBK)

Prime Minister Hwang Kyo-ahn has been serving as acting president since the parliament’s passage of a motion to impeach President Park Geun-hye earlier this month. Hwang could name Kim to be the new CEO, but opposition lawmakers might oppose the move.

The recommendation for Kim came as the term of incumbent CEO Kwon Seon-joo is to expire Tuesday.

Kim has spent his whole career at IBK since entering the bank in 1985.

Since 2014, he has led the management strategy division of the bank.

By Kim Yoon-mi (yoonmi@heraldcorp.com)