Financial industry heavyweights compete to head banking lobby
With the Korea Federation of Banks (KFB) set to appoint its next chairman, several former financial executives and regulators are emerging as potential candidates to take the helm of the country’s leading banking lobby, according to industry officials on Friday. The federation represents 23 full members — commercial, regional and internet-only lenders — as well as 33 associate members, comprising…
The Korea Federation of Banks (KFB) is in the process of selecting its next chairman, with several high-ranking former financial executives and regulators vying for the position. Representing 23 full members such as commercial, regional, and internet-only lenders, along with 33 associate members consisting of foreign bank branches, the KFB is the leading banking lobby in the country.
Currently, Cho Yong-byoung, the incumbent, is set to relinquish his role on November 30. Among the potential candidates, Yoon Jong-kyoo, the former chairman of KB Financial Group, is considered a frontrunner. Before his tenure at KB Financial, Yoon served as a vice chairman at accounting firm Samil PwC and president of KB Kookmin Bank, overseeing significant acquisitions like LIG Insurance and Hyundai Securities.
However, the possibility of another KB Financial executive assuming a top position at a financial industry association has sparked growing opposition. This sentiment gained momentum after Lee Dong-chul, a former vice chairman at KB Financial, assumed leadership of the Credit Finance Association this year, followed by Kim.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Financial industry heavyweights compete to head banking lobby koreatimes.co.kr
