All six applicants to face interviews

Interviews set for Sept. 21, final pick Sept. 22

Shin Hak-gi (left), CEO of Sh Suhyup Bank, and Lee Hyung-joo, director of the Korea Financial Intelligence Unit (KoFIU). (Sh Suhyup Bank, Financial Services Commission)
Shin Hak-gi (left), CEO of Sh Suhyup Bank, and Lee Hyung-joo, director of the Korea Financial Intelligence Unit (KoFIU). (Sh Suhyup Bank, Financial Services Commission)

The process to select Sh Suhyup Bank's next CEO has begun in earnest. Financial industry observers see incumbent CEO Shin Hak-gi, who is seeking another term, as a leading candidate. Lee Hyung-joo, director of the Korea Financial Intelligence Unit (KoFIU) under the Financial Services Commission, is also seen as a leading contender.

According to financial industry sources Thursday, Sh Suhyup Bank's CEO candidate recommendation committee completed document screening of six applicants on Wednesday. The committee selected all six to move on to interviews.

Six candidates applied for the post. From within the bank came Shin along with former deputy CEOs Jung Chul-kyun and Park Yang-soo. From outside came Lee, as well as Lee Hyung-seung, an outside director at BNK Investment & Securities, and Kang Chul-seung, head of the Korea Fisheries Policy Forum.

The committee plans to hold candidate interviews on Sept. 21 and choose a final candidate on Sept. 22. The selection will then be confirmed as the next CEO following approval from the board of directors and a general shareholders meeting. Shin's current term runs through Nov. 17.

Financial industry observers see the race forming mainly around Shin and Lee.

Shin joined the National Federation of Fisheries Cooperatives in 1995. He went on to serve as head of the risk management department, the credit review department and the strategic planning department, as well as head of the southern regional headquarters. He became senior deputy CEO of the management strategy group in 2020 and was appointed CEO of Suhyup Bank in 2024.

During his tenure, Suhyup Bank acquired Trinity Asset Management to launch Sh Suhyup Asset Management, and the bank is also pursuing an acquisition of Sangsangin Securities. If Shin wins another term, he would become the first CEO to serve consecutive terms at Suhyup Bank. The bank was spun off from the credit business division of the National Federation of Fisheries Cooperatives in 2016.

Lee passed the 39th state administrative exam. He has served as director of the financial policy division, director general for the financial industry and director general for financial policy at the Financial Services Commission. He also served as a standing commissioner there and currently heads the KoFIU. If Lee is chosen, he would become the first Suhyup Bank CEO to come from the FSC.

The recommendation committee consists of five members — three recommended by the government and two by the National Federation of Fisheries Cooperatives. Confirming a CEO candidate requires the approval of at least four committee members.


rim@heraldcorp.com