Ex-IBK president recommended to head KEB

Yun Yong-ro, ex-president of the Industrial Bank of Korea, has been recommended to head KEB, a Hana Financial spokesman said.

Hana Financial's executive recommendation committee made the recommendation.

The choice is seen to win approval from Lone Star Funds, the biggest Korea Exchange Bank stakeholder, at KEB's board meeting scheduled for March 11 or 12, he said. Lone Star is expected to approve Yun because the regulatory go-ahead that allows Hana Financial to become the biggest shareholder of KEB is expected to come later than the KEB shareholders meeting, according to financial sources.

If Yun receives the final nod at the KEB's annual shareholders meeting slated for March 29, he will replace Larry Klane who has headed the KEB since 2009, Hana Financial said.

Hana Financial has only to win the financial regulator's approval for the transaction to officially become the owner of the fifth-largest lender in South Korea.

Yun served posts at the finance ministry and the financial watchdog before heading the IBK between 2007 and 2010.

Follow the link for more news on

Also Read

Taiwanese banks' loans to SMEs reach $314.57b in September

South Korea's household loans up 0.9% in Q3

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit