Do not go gentle into that good night, old age should burn and rave at close of day; Rage, rage against the dying of the light, though wise men at their end know dark is right, because their words had forked no lightning they, do not go gentle into that good night.
Byeon, Lee tapped as Shinhan's outside directors
By Jhoo Dong-chan
Shinhan Financial Group's board has nominated four candidates as outside directors.
The four are VIG Partners Senior Adviser Byeon Yang-ho, former presidential secretary for finance and economy Lee Yoon-jae, Sungkyunkwan University law professor Sung Jae-ho and First Bridge Strategy Founder and CEO Huh Yong-hak. Of them, Lee was recommended by IMM Private Equity (PE), Shinhan Financial Group's new major shareholder.
Adding the four to the group's existing outside directors, Shinhan will have 13 board members ― the Shinhan Financial Group chairman, the bank CEO and 11 outside directors.
VIG Partners Senior Advisor Byeon Yang-ho
By Jhoo Dong-chan
The four candidates are expected to be appointed after the group's regular general shareholders' meeting slated for March. 27. They will serve a two-year term.
VIG Partners Senior Advisor Byeon spent his entire career with the Ministry of Finance and Economy before he joined Vogo, the predecessor of VIG Partners, in 2005.
As a civil servant, he has played key roles for 28 years in various macroeconomic projects, including engineering the restructuring of Korea's sovereign debts as well as its corporate and financial sectors after the Asian financial crisis in 1997.
He was also named by Wall Street as one of the “15 most influential people in the world economy” in 2001.
Former presidential secretary for finance and economy Lee Yoon-jae
Like Byeon, Lee was a civil servant at the Ministry of Finance and Economy before he became a presidential secretary under the Kim Dae-jung administration.
As a presidential secretary for finance and economy, Lee was a key figure in dealing with Korea's post-IMF bailout economy.
After he resigned, Lee founded corporate strategy consulting firm KorEI.
He has also served as an outside director at a number of major conglomerates, including SC Bank Korea, Busan Bank, Samsung Fire & Marine, S-Oil and LG.
“Lee is a proven expert in economic and corporate management,” IMM PE said.
“We expect Lee will also demonstrate his excellence as an outside director of Shinhan Financial Group.”