The Korea Herald


NongHyup Financial nominates VP as new CEO for bank unit

By Choi Jae-hee

Published : March 17, 2020 - 17:58

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Son Byung-hwan, vice president of NongHyup Financial Group Son Byung-hwan, vice president of NongHyup Financial Group

NongHyup Financial Group’s committee for nominating executive members announced Tuesday that it has recommended incumbent Vice President Son Byung-hwan as the sole candidate for the new CEO post of its bank subsidiary. 

The announcement came after the bank’s former CEO Lee Dae-hoon offered to resign earlier this month. 

Son, 58, joined the National Agricultural Cooperative Federation in 1990 and has led the bank’s digital transformation by implementing an open application program interface, the group said in a statement. The nomination is subject to shareholders’ approval. The group holds a shareholders general meeting next week. 

The committee also initiated a succession process for the chairman post, but ended the discussion by leaving Chairman Kim Kwang-soo’s fate undecided.

Chairman Kim’s term ends next month.

By Choi Jae-hee (