4 candidates nominated for Woori Bank CEO post

After Woori Financial Group swore in Yim Jong-ryong as its new chairman last week, attention is now focused on who will lead Woori Bank.

The leading post at the banking subsidiary of Woori Financial Group has been empty for nearly a month, following the sudden resignation of former Woori Bank CEO Lee Won-duk early this month.

The financial group’s executive recommendation committee has recently confirmed a list of four nominee candidates for the CEO post of the bank — corporate and investment banking division managing director Kang Shin-kook, local business division managing director Lee Seok-tae, Woori Card CEO Park Wan-sik and Woori Financial Capital CEO Cho Byungkyu.

All born between 1964 and 1965, the four candidates started their careers at either the Commercial Bank of Korea or Hanil Bank, both of which are former institutions of the current Woori Bank.

Since the two banks merged in 1998, Woori Bank has been led alternately by leaders from either one of the two banks. The pattern is also shown in the list; Lee and Cho came from Commercial Bank of Korea, while Kang and Park are from Hanil

Bank.

Given that Yim stressed bold innovation as the key priority during his recent appointment ceremony, the four candidates will be assessed from various angles. The

group’s executive recommendation committee plans to conduct in-depth interviews with the four candidates. The final decision on the bank CEO post is expected to be made at the end of May.