Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
NongHyup Bank CEO named NH Financial chairman
NongHyup Financial Group Chairman nominee Son Byung-hwan
By Park Jae-hyuk
By Park Jae-hyuk
NongHyup (NH) Bank CEO Son Byung-hwan was nominated as the new chairman to lead the bank's holding company until the end of 2022, NH Financial Group said Tuesday.
The nomination came just nine months after he was appointed the bank's CEO in March.
If his appointment gets approval from the board of directors and shareholders, he will be the second chairman who has not worked as a government official, following Chairman Shin Choong-shik, who led the group after it spun off from the National Agricultural Cooperative Federation (NACF) in 2012.
“Until this year, we have focused on being systemized as a financial holding company, but from next year, we will pursue stable growth and look for new businesses by creating a synergy effect with farmers,” the group's executive recommendation committee said in a statement. “From that standpoint, we considered Son the most qualified person to lead the group in the post-COVID-19 era for his great insight and expertise in digitization.”
After majoring in agricultural education at Seoul National University, Son joined the NACF in 1990. He is known for his expertise in planning and strategy because he contributed to the bank's establishment of NH Fintech Innovation Center and introduction of the nation's first open application programming interface (open API).
The executive recommendation committee said it will select the new NH Bank CEO soon.