Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
JB Financial Group CEO's tenure extended for 3 years
JB Financial Group Chairman and CEO Kim Ki-hong will have his term extended for another three years, after taking office in 2019. Korea Times file
By Yi Whan-woo
By Yi Whan-woo
JB Financial Group Chairman and CEO Kim Ki-hong will have his term extended for another three years, the banking group said Wednesday.
The company said its CEO recommendation committee decided Tuesday to retain Kim in recognition of his management expertise, which pushed JB Financial Group to become the country's most profitable banking institution.
Kim took office in 2019 and his tenure will be extended officially once the committee's choice is approved by board directors and shareholders in their regular meeting scheduled for March.
“The committee members unanimously selected Kim as the most suitable CEO,” a JB Group official said.
In particular, the committee ― comprised of both outside directors and non-executive directors ― interviewed the CEO to find out his strategies concerning the changing financial environment, relationship building with shareholders and clients and portfolio diversification in and outside Korea.
The official added that Kim has efficiently managed the company to report considerable growth in terms of net profit.
Headquartered in Jeonju, North Jeolla Province, JB Financial Group has multiple subsidiaries.
The Korean subsidiaries are: Jeonbuk Bank, Kwangju Bank, JB Woori Capital and JB Asset Management. Additionally, there are JB Group's Southeast Asian units: Phnom Penh Commercial Bank, JB Capital Myanmar, JB Securities Vietnam and JB Phnom Penh Asset Management.