Suh chosen as sole CEO candidate for K bank

By Kim Yoo-chul

Hankook Tire & Technology Senior Vice President Suh Ho-sung has been chosen as the sole candidate to become the chief executive of K bank, the internet-only bank said, Monday.

“The bank's CEO-selection committee recommended Suh as the sole CEO candidate to K bank's board committee. After shareholders' approval, Suh will officially take the top seat,” K bank said in a press release. If shareholders approve the recommendation, Suh will be the first outsider to take the top position at the bank since its establishment.

Suh Ho-sung

The release added the selection-committee gave Suh extra credit for his hands-on experience with clients in the financial industry, which could help K bank win more investments from major investors. “K bank is hoping Suh will help the firm lift its overall corporate value and boost brand recognition,” the statement said.

Suh earned an MBA at Carnegie Mellon University in the United States and previously worked for Hyundai Motor's financial services units ― Hyundai Card, Hyundai Motor Securities and Fubon Hyundai Life Insurance.

Unlike its rival Kakao Bank, K bank is struggling to raise capital to bulk up its business. K bank is hoping to raise up to 400 billion in capital this year and is said to have approached major private equity firms (PEFs) and the Singapore sovereign wealth fund GIC. But initial responses were disappointing.