BC Card, Korea’s credit card payment services provider, will name Lee Kang-tae, former Hana SK Card chief, as its new CEO, reports said on Tuesday.

KT, the nation’s telecommunication giant, which is the largest shareholder of BC Card, has decided to select Lee, replacing Lee Jong-ho who recently tendered his resignation, according to the reports.

Industry sources said KT has been looking to accelerate the merger of finance and telecommunications.

Lee, who served as the Hana SK CEO until early this year, recently joined KT as a senior adviser. He is considered an expert in the mobile card market.

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