NongHyup Financial Group has tapped a former state-run bank chief as its new chairman to succeed Yim Jong-yong, who was recently appointed head of the Financial Services Commission.
The chairman selection committee on Monday recommended Kim Yong-hwan, former president of the Export-Import Bank of Korea, as the sole candidate to fill the chairman’s post of the banking group.
Kim Yong-hwan. (Yonhap)
“Having served key posts in the Finance Ministry, Financial Supervisory Service and Korea Eximbank, Kim has (an) in-depth understanding of financial affairs in general,” the financial group said in a press release.
“He was most distinguished in securities, insurance and international financing.”
Under the leadership of former chairman Yim Jong-yong, the agricultural cooperative-based banking group drastically expanded its securities and insurance sectors by taking over Woori’s brokerage houses.
NH Financial became the nation’s fourth-largest banking group by assets and was No. 1 in investment securities.
By Bae Hyun-jung (tellme@heraldcorp.com)
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