KB Financial picks head of global business as next chairman

KB Financial Group has appointed Vice Chairman Lee Jae-keun as its next chairman, surprising the market that had expected incumbent Chairman Yang Jong-hee to secure another term. The selection comes at a time when the financial institution seeks to strengthen its core competitiveness and secure new growth engines beyond its current strong performance.

Lee was chosen over Yang and former Woori Bank CEO Kwon Kwang-seok, and his appointment is set to be finalized at a shareholders meeting on November 20, when Yang's current term expires. The selection process involved two-hour in-depth interviews with each of the three shortlisted candidates, who were assessed on five criteria, including professional experience and expertise, leadership, morality, alignment with the group's vision and values, and commitment to sound management over the short and long term.

Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.