KDB Financial union opposes new CEO pick

By Korea Herald
  • Published : Apr 5, 2013 - 20:31
  • Updated : Apr 5, 2013 - 20:31
Unionized workers at KDB Financial Group Co. on Friday expressed strong opposition to the appointment of a presidential aide as its chief, saying he has been tapped thanks to his political connections.

The Financial Services Commission, the country’s top financial regulator, on Thursday picked Hong Ki-taek, an economics professor and an aide to President Park Geun-hye, to head the state-run banking giant. The KDB Financial chief is appointed by the president on the recommendation of the FSC chairman.

KDB Financial union held a rally at its headquarters earlier in the day and vowed to wage an all-out campaign to block the new chief from coming to the office when he starts his job on Monday.

“It is unacceptable to see the candidate who has no experience of running an organization become the new chief due to cronyism,” said a union official.

In its statement, the union criticized the government for tapping a person who lacks understanding and experience in finance in the light of government-related affairs, at a time when the plan to privatize KDB Financial has hit snags amid a big reshuffle among policy lenders. (Yonhap News)