Two internal, one external candidate selected

Final candidate to be confirmed after second interview on Sept. 11

From left: KB Financial Group Chairman Yang Jong-hee, KB Financial Group Division Head Lee Jae-geun and former Woori Bank President Kwon Gwang-seok. [KB Financial Group]
From left: KB Financial Group Chairman Yang Jong-hee, KB Financial Group Division Head Lee Jae-geun and former Woori Bank President Kwon Gwang-seok. [KB Financial Group]

KB Financial Group has narrowed its search for a next chairman to three candidates: Kwon Gwang-seok, former president of Woori Bank; Yang Jong-hee, current KB Financial Group chairman; and Lee Jae-geun, a division head at KB Financial Group.

The group's chairman candidate recommendation committee held a meeting Thursday, conducting in-depth interviews with the six candidates on its existing shortlist before selecting the final three, the committee announced.

The final shortlist comprises two internal candidates and one external candidate. Yang and Lee represent the internal picks, while Kwon is the sole outside contender.

The earlier six-person shortlist had included Kwon, Yang and Lee, along with Lee Chang-kwon, another KB Financial Group division head; Lee Hwan-ju, president of KB Kookmin Bank; and one external candidate who wished to remain anonymous.

The committee will conduct a second round of in-depth interviews with the three remaining candidates on Sept. 11, after which it will select a single finalist to be confirmed as the next chairman.

Committee Chair Jo Hwa-jun said the succession process "is being carried out transparently in accordance with fair and objective criteria," adding that the committee would "do its utmost to the end so that the most qualified person — one whom all stakeholders can trust — is appointed as the next chairman."

Meanwhile, KB Financial Group extended the candidate vetting period to more than three months for this chairman selection process. It also gave external candidates roughly two months to prepare before their first interview and arranged preliminary meetings with committee members — steps designed to narrow the information gap between internal and external candidates.


rim@heraldcorp.com