Bank CEOs on edge over year-end reappointment as governance scrutiny grows

Bank CEOs at major financial holding affiliates are facing heavier year-end reappointment scrutiny as regulators press for more transparent succession processes in Seoul on Wednesday. FSS Gov. Lee Chan-jin told eight financial groups to make CEO selection fair, transparent and less dependent on factions or personal ties. The terms of five major bank CEOs, including KB Kookmin Bank and Shinhan Bank, expire at the end of December. The surprise replacement of KB Financial Group leader Yang Jong-hee has intensified concern that performance alone may no longer secure another term.

The terms of 54 top executives at major financial holding companies’ affiliates are set to expire at the end of the year.

Lee Chan-jin met the chairmen of eight financial groups: KB, Shinhan, Hana, Woori, NH NongHyup, iM, BNK and JB.

The terms of KB Kookmin Bank CEO Lee Hwan-ju, Shinhan Bank CEO Jung Sang-hyuk, Hana Bank CEO Lee Ho-sung, Woori Bank CEO Jung Jin-wan and NH NongHyup Bank CEO Kang Tae-young expire at the end of December.

Bank CEOs typically serve two-year terms, with a possible one-year extension based on management performance.

The article says KB Financial Group replaced Yang Jong-hee with Vice Chairman Lee Jae-keun despite strong earnings under Yang’s tenure.

Published Sep 23, 2026 2:06 pm KST

From left are KB Kookmin Bank CEO Lee Hwan-ju, Shinhan Bank CEO Jung Sang-hyuk, Hana Bank CEO Lee Ho-sung, Woori Bank CEO Jung Jin-wan and NH NongHyup Bank CEO Kang Tae-young. Korea Times file

With the terms of 54 top executives at major financial holding companies’ affiliates set to expire at the end of the year, including the CEOs of all five major commercial banks, the government is stepping up pressure on financial groups to make their leadership succession more transparent and address any procedural shortcomings, according to industry officials Wednesday.

Financial Supervisory Service (FSS) Gov. Lee Chan-jin made the call at a meeting with the chairmen of eight financial groups — KB, Shinhan, Hana, Woori, NH NongHyup, iM, BNK and JB — at his agency's headquarters in Seoul, Wednesday.

CEO appointments at their subsidiaries, Lee said, should be “a transparent and fair process for identifying the right candidates based on their capabilities, without being swayed by particular factions or personal relationships.”

Holding companies that still lack what the FSS considers basic safeguards, including clearly defined qualifications for the top job and a minimum period for assessing candidates at each stage, should address those gaps before launching their appointment process, he added.

Lee also called for subsidiary CEO recommendation committees to have a more meaningful say in the selection of candidates, rather than leaving the process largely in the hands of their parent holding companies.

Lee’s latest call comes just a week after he raised similar concerns at a meeting of senior FSS officials on Sept. 15. With financial authorities’ broader corporate governance reform package yet to be unveiled, his renewed push for greater transparency appears intended to serve as consideration for financial groups weighing their year-end appointments.

The terms of the KB Kookmin Bank CEO Lee Hwan-ju, Shinhan Bank CEO Jung Sang-hyuk, Hana Bank CEO Lee Ho-sung, Woori Bank CEO Jung Jin-wan and NH NongHyup Bank CEO Kang Tae-young are all due to expire at the end of December. Bank CEOs typically serve two-year terms, with a possible one-year extension based on management performance.

In previous years, strong earnings have often provided a clear case for keeping an incumbent in place. This year, however, industry officials note that performance may no longer be enough to settle the question.

The issue has gained further attention following the surprise leadership change at KB Financial Group. Yang Jong-hee, who was widely expected to secure a second term after delivering strong earnings during his tenure, was instead replaced by Vice Chairman Lee Jae-keun.

“Since KB Financial had delivered industry-leading results under Yang’s tenure, the market had widely expected him to stay. The fact that the group still went with a leadership change suggests that business performance alone may no longer be enough,” a banking industry official said.

“Factors like the financial authorities’ push for corporate governance reform, as well as a convincing rationale for retaining an incumbent, are likely to carry more weight than before.”

KB Financial cans incumbent chairman to tap deputy as new leader

[COVER STORY] KB leadership change raises prospect of generational shift across financial sector

Major bank CEOs face pivotal test for potential reappointment

周三，监管机构在首尔敦促各大金融控股集团旗下银行的首席执行官们提高继任流程的透明度，这使得各大金融控股集团的首席执行官在年底的连任选举中面临更加严格的审查。金融监督院院长李灿镇要求八家金融集团确保首席执行官的遴选过程公平、透明，并减少派系斗争和私人关系的影响。包括KB国民银行和新韩银行在内的五家主要银行首席执行官的任期将于12月底到期。KB金融集团总裁杨钟熙的意外离职加剧了人们的担忧，即仅凭业绩可能已不足以确保连任。

54名大型金融控股公司旗下子公司的高管任期将于年底到期。

李灿镇会见了八家金融集团的董事长：KB、新韩、韩亚、友利、NH农协、iM、BNK和JB。

KB国民银行CEO李焕柱、新韩银行CEO郑相赫、韩亚银行CEO李浩成、友利银行CEO郑镇完和NH农协银行CEO姜泰荣的任期将于12月底到期。

银行首席执行官的任期通常为两年，根据管理业绩，有可能延长一年。

文章称，尽管杨钟熙在任期间公司盈利强劲，KB金融集团还是用副会长李在根取代了杨钟熙。

发布于2026年9月23日下午2:06（韩国标准时间）

左起分别为国民银行代表李焕柱、新韩银行代表郑相赫、韩亚银行代表李浩成、友利银行代表郑振完、新韩农协银行代表姜泰英。韩国时报档案

据业内人士周三透露，由于包括五大商业银行首席执行官在内的54名主要金融控股公司旗下子公司的高管任期将于年底到期，政府正在加大对金融集团的压力，要求其领导层更迭更加透明，并解决任何程序上的缺陷。

韩国金融监督院院长李灿镇周三在首尔金融监督院总部与八家金融集团（KB、新韩、韩亚、友利、NH农协、iM、BNK和JB）的董事长举行会议时发出这一呼吁。

李表示，子公司CEO的任命应该是一个“透明、公平的过程，根据候选人的能力来确定合适的人选，而不受特定派系或私人关系的影响”。

他还补充说，控股公司如果仍然缺乏金融服务监管局认为的基本保障措施，包括明确界定最高职位的资格要求以及在每个阶段评估候选人的最短期限，则应在启动任命程序之前解决这些差距。

李还呼吁子公司首席执行官推荐委员会在候选人选择方面拥有更有意义的发言权，而不是将这一过程主要交给其母公司控股公司。

李显龙最新呼吁是在他9月15日向金融监督局高级官员提出类似担忧一周后发出的。由于金融监管机构更广泛的公司治理改革方案尚未公布，他再次推动提高透明度，似乎是为了给正在权衡年底人事任命的金融集团提供参考。

KB国民银行CEO李焕柱、新韩银行CEO郑相赫、韩亚银行CEO李浩成、友利银行CEO郑镇完以及NH农协银行CEO姜泰荣的任期均将于12月底届满。银行CEO的任期通常为两年，并可根据管理业绩获得一年的续任。

往年，强劲的盈利往往足以证明现有企业仍能继续留任。然而，今年业内人士指出，业绩可能已不足以决定企业的去留。

KB金融集团出人意料的领导层变动，进一步引发了人们对这一问题的关注。此前外界普遍预期杨钟熙会连任，因为他在任期间业绩斐然，但最终却被副会长李在根取代。

一位银行业人士表示：“由于KB金融在杨先生的领导下取得了行业领先的业绩，市场普遍预期他会留任。但该集团最终还是更换了领导层，这表明仅仅依靠业绩可能已经不足以保证领导层的留任。”

“金融当局推动公司治理改革等因素，以及保留现任者的令人信服的理由，可能会比以前更具分量。”

KB Financial 撤换现任董事长，任命副董事长为新领导人。

【封面故事】KB领导层变动或将引发金融业的代际更迭

大型银行首席执行官面临能否连任的关键考验