Financial industry heavyweights compete to head banking lobby

The Korea Federation of Banks is preparing to choose a successor to Chairman Cho Yong-byoung, whose term ends on Nov. 30. Former KB Financial Group Chairman Yoon Jong-kyoo is viewed as a front-runner, but resistance to another KB Financial veteran taking a financial association leadership post has strengthened former Standard Chartered Bank Korea President Park Jong-bok’s position. Former regulators and other financial executives are also being considered. The federation expects to form a recommendation committee in early November and clarify the leading candidates by mid-November.

The KFB represents 23 full members, including commercial, regional and internet-only lenders, and 33 associate members comprising foreign bank branches.

Yoon Jong-kyoo led KB Financial Group from 2014 to 2023 and oversaw acquisitions including LIG Insurance and Hyundai Securities.

Park Jong-bok led Standard Chartered Bank Korea from 2015 to 2025, serving four consecutive terms as chief executive, and sat on the KFB board until last year.

Eun Sung-soo, former chairman of the Financial Services Commission and former chairman of Korea Eximbank, is among the former regulators being discussed.

The planned recommendation committee will comprise the KFB’s 12 board members, including Cho and the heads of member banks.

Published Oct 23, 2026 4:33 pm KST

Updated Oct 23, 2026 4:47 pm KST

From left, Yoon Jong-kyoo, former chairman of KB Financial Group; Park Jong-bok, former president of Standard Chartered (SC) Bank Korea; and Eun Sung-soo, former chairman of the Financial Services Commission and former head of the Export-Import Bank of Korea / Courtesy of KB Financial Group, SC Bank Korea and Korea Eximbank

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 branches of foreign banks.

The incumbent, Cho Yong-byoung, is due to leave office on Nov. 30.

Yoon Jong-kyoo, former chairman of KB Financial Group, has long been viewed as a front-runner. He served as a vice chairman at accounting firm Samil PwC and president of KB Kookmin Bank before leading KB Financial from 2014 to 2023, overseeing major acquisitions including LIG Insurance and Hyundai Securities.

But the prospect of another KB Financial veteran taking a top post at a financial industry association has drawn growing resistance. The concern has intensified after Lee Dong-chul, a former KB Financial vice chairman, took the helm of the Credit Finance Association this year, followed by Kim Ki-hwan, a former president of KB Insurance, becoming head of the Korea Fire Protection Association.

That pushback has strengthened the position of Park Jong-bok, former president of Standard Chartered (SC) Bank Korea, as an alternative. Park joined the then-Korea First Bank in 1979 and led the lender from 2015 to 2025, serving four consecutive terms as chief executive. Having sat on the KFB board until last year in his capacity as the bank’s chief executive, he is seen as having closer ties to the federation’s current leadership than some of his potential rivals.

Korea Federation of Banks headquarters in Seoul / Yonhap

Former financial regulators are also being considered, with their experience working with government authorities seen as an asset.

Eun Sung-soo, former chairman of the Financial Services Commission, is among the names being discussed. He held several senior positions under the Moon Jae-in administration, including chairman of the Export-Import Bank of Korea (Korea Eximbank).

Other potential contenders include Yoon Jong-won, former president of Industrial Bank of Korea, and Hur Yin, a former vice chairman of KB Financial. Lee Chan-woo, chairman of NH NongHyup Financial Group, is also being mentioned ahead of the end of his term in February next year. Lee previously held senior posts at the Ministry of Finance and Economy and the Financial Supervisory Service.

“The next chairman will need to help banks respond to government policy priorities, including expanding lending to productive sectors and promoting inclusive finance, while keeping household debt in check,” a banking industry official said.

“The role will also require helping member banks diversify their revenue sources beyond their traditional reliance on the spread between lending and deposit rates.”

The KFB is expected to approve the formation of a chairman recommendation committee in early November. The committee will comprise the federation’s 12 board members, including the incumbent Cho and the heads of member banks. The field of leading candidates is expected to become clearer by mid-November.

韩国银行业联合会正准备选出会长赵容炳的继任者，赵容炳的任期将于11月30日结束。前KB金融集团会长尹钟奎被视为热门人选，但由于各方对另一位KB金融集团资深人士担任金融协会领导职务的抵触情绪，前渣打银行韩国行长朴钟福的胜算更大。前监管机构官员和其他金融高管也在考虑之列。联合会预计将于11月初成立推荐委员会，并在11月中旬确定主要候选人。

KFB 代表 23 个正式成员，包括商业贷款机构、区域性贷款机构和纯互联网贷款机构，以及 33 个准成员，包括外国银行分支机构。

尹钟奎于 2014 年至 2023 年担任 KB 金融集团总裁，并主导了包括 LIG 保险和现代证券在内的多项收购。

朴钟福于 2015 年至 2025 年担任渣打银行韩国分行首席执行官，连任四届，并一直担任韩国联邦银行董事会成员直至去年。

前金融服务委员会委员长、前韩国进出口银行董事长殷成洙是此次被讨论的前监管机构成员之一。

计划中的推荐委员会将由韩国金融委员会的 12 名董事会成员组成，其中包括 Cho 和成员银行的负责人。

发布于2026年10月23日下午4:33（韩国标准时间）

更新于2026年10月23日下午4:47（韩国标准时间）

从左至右：KB金融集团前董事长尹钟奎；渣打银行韩国分行前行长朴钟福；韩国金融服务委员会前委员长兼韩国进出口银行前行长殷成洙。/图片由KB金融集团、渣打银行韩国分行和韩国进出口银行提供

据业内人士周五透露，随着韩国银行业联合会（KFB）即将任命下一任会长，几位前金融高管和监管人员正在成为执掌该国主要银行业游说团体的潜在候选人。

该联合会代表 23 个正式成员——商业贷款机构、区域性贷款机构和纯互联网贷款机构——以及 33 个准成员，其中包括外国银行的分支机构。

现任议员赵容炳将于11月30日卸任。

KB金融集团前董事长尹钟奎一直被视为热门人选。在2014年至2023年领导KB金融集团之前，他曾担任会计师事务所三一普华永道的副董事长和KB国民银行的总裁，期间主导了包括LIG保险和现代证券在内的多项重大收购。

但另一位KB金融集团资深人士可能出任金融行业协会要职的前景引发了越来越多的反对意见。此前，KB金融集团前副会长李东哲(Lee Dong-chul)今年出任韩国信用金融协会会长，随后KB保险集团前社长金基焕(Kim Ki-hwan)又出任韩国消防协会会长，这些都加剧了人们的担忧。

这一阻力反而巩固了渣打银行韩国分行前行长朴钟福作为替代人选的地位。朴钟福于1979年加入当时的韩国第一银行，并于2015年至2025年担任该行行长，连续四届担任首席执行官。他曾以韩国第一银行首席执行官的身份担任韩国第一银行董事会成员直至去年，因此被认为比一些潜在竞争对手与该银行联合会现任领导层关系更为密切。

韩国银行业联合会总部（首尔）/ 韩联社

公司也在考虑聘用前金融监管人员，他们与政府部门合作的经验被视为一项优势。

前金融服务委员会委员长殷成洙是讨论的人选之一。他在文在寅政府时期担任过多个高级职务，包括韩国进出口银行（韩国进出口银行）董事长。

其他潜在候选人包括韩国产业银行前行长尹钟元和KB金融集团前副会长许寅。NH农协金融集团会长李灿宇也被认为是潜在人选，他的任期将于明年2月结束。李灿宇此前曾在韩国财政经济部和金融监督院担任要职。

一位银行业官员表示：“下一任董事长需要帮助银行响应政府的政策重点，包括扩大对生产性行业的贷款和促进普惠金融，同时控制家庭债务。”

“该职位还要求帮助成员银行实现收入来源多元化，摆脱对贷款利率和存款利率之间利差的传统依赖。”

韩国银行联合会（KFB）预计将于11月初批准成立主席推荐委员会。该委员会将由联合会的12名理事组成，包括现任主席赵显龙和各成员银行的负责人。预计到11月中旬，主要候选人名单将更加明朗。