By Yoon Ja-young
The Korea Federation of Banks (KFB) has appointed a former Nonghyup vice chairman as its new head.
The KFB held a general meeting, Wednesday, with representatives of its member banks, and appointed Kim Tae-young, former chief of the credit business at Nonghyup, or the farmers' cooperative, as the 13th chairman and CEO of the KFB. He will succeed Ha Yung-ku whose term ends today. Kim was recommended as the sole candidate at the KFB board of directors' meeting held Nov. 27. Current chief Ha as well as representatives from member banks, the KDB, Kookmin, Shinhan, KEB Hana, Nonghyup, IBK, Citibank, SC and BNK Busan participated in the meeting.
"We thoroughly examined the quality and capability of the seven candidates. Since Kim has much experience and know-how in the overall financial industry including banking, we expect he will make a sizeable contribution to the development of the industry," an official at the KFB said.
The KFB board also excluded former government officials among its key candidates, amid criticism that the connection between the private industry and former government officials should be severed.
Born in Busan in 1953, Kim joined Nonghyup in 1971 after graduating from Yeongnam Commercial High School which was popular among bright students back then. He later graduated from Myongji University in 1975, successfully handling both work and study. He is known for a strong passion for work, which saw him labeled a workaholic. He also has wide network in the financial industry.
He took key posts at the farmers' cooperative, rising to head the credit business in 2008. After retiring from Nonghyup, he served as the head of the Gyeonggi Credit Guarantee Foundation. He returned to Nonghyup, serving as vice chairman from 2013 to 2014. Currently, he is working as a non-standing research fellow at the Korea Institute of Finance.
Kim will start his three-year-term Dec. 1.
The Korea Federation of Banks (KFB) has appointed a former Nonghyup vice chairman as its new head.
The KFB held a general meeting, Wednesday, with representatives of its member banks, and appointed Kim Tae-young, former chief of the credit business at Nonghyup, or the farmers' cooperative, as the 13th chairman and CEO of the KFB. He will succeed Ha Yung-ku whose term ends today. Kim was recommended as the sole candidate at the KFB board of directors' meeting held Nov. 27. Current chief Ha as well as representatives from member banks, the KDB, Kookmin, Shinhan, KEB Hana, Nonghyup, IBK, Citibank, SC and BNK Busan participated in the meeting.
"We thoroughly examined the quality and capability of the seven candidates. Since Kim has much experience and know-how in the overall financial industry including banking, we expect he will make a sizeable contribution to the development of the industry," an official at the KFB said.
The KFB board also excluded former government officials among its key candidates, amid criticism that the connection between the private industry and former government officials should be severed.
Born in Busan in 1953, Kim joined Nonghyup in 1971 after graduating from Yeongnam Commercial High School which was popular among bright students back then. He later graduated from Myongji University in 1975, successfully handling both work and study. He is known for a strong passion for work, which saw him labeled a workaholic. He also has wide network in the financial industry.
He took key posts at the farmers' cooperative, rising to head the credit business in 2008. After retiring from Nonghyup, he served as the head of the Gyeonggi Credit Guarantee Foundation. He returned to Nonghyup, serving as vice chairman from 2013 to 2014. Currently, he is working as a non-standing research fellow at the Korea Institute of Finance.
Kim will start his three-year-term Dec. 1.
![[INTERVIEW] North Korean defectors bear brunt of remittance scams](https://img.koreatimes.co.kr/upload/thumbnailV2/75c261156ac7415fad92dc1d7c1b30cf.jpg/dims/resize/178/optimize)
![[INTERVIEW] Foreign-born entertainers seek to revolutionize local industry](https://img.koreatimes.co.kr/upload/thumbnailV2/4a6b2bd3d23044d699dee3c5bb956863.jpg/dims/resize/178/optimize)
