Hana Financial chair may clinch fourth term

From left are Hana Financial Group Chairman Kim Jung-tai, Hana Financial Group Vice Chairman Ham Young-joo, Hana Financial Group Deputy President Park Sung-ho and former Citibank Korea CEO Park Jin-hei.

By Lee Kyung-min

Hana Financial Group Chairman Kim Jung-tai, 69, was among four candidates shortlisted for the group's next chairman, the group said Tuesday.

The other three are Vice Chairman Ham Young-joo, Deputy President Park Sung-ho and former Citibank Korea CEO Park Jin-hei.

The three-term Hana Financial chairman making the list is in line with industry expectations that he would be able to clinch a fourth term, which will be limited to one year due to his age. The group's rule stipulates that its chairman must be under 70 years of age.

The financial holding firm's chairman recommendation committee said the four candidates were chosen based on their respective visions, mid- to long-term management strategies, entrepreneurship, experience, expertise, global mindset and networks.

“We have confirmed the final candidates fairly and transparently in accordance with the management succession plan and candidate recommendation process. The committee included candidates that will contribute to the group's stable corporate organization," commttee chairman Yoon Sung-bok said.

The committee plans to confirm the finalist following in-depth interviews with each candidate. The finalists will be announced as by the end of this month, or early March at the latest, two weeks before the group's shareholders meeting.

Kim joined Hana Bank as a founding member in 1992. He held a number of key posts at Hana Financial Group including vice president and CEO of Hana Investment & Securities and CEO of Hana Bank.

Kim started his first term as Hana chairman in March 2012, and succeeded in securing two more terms. One of his most successful leadership attributes was a smooth post-merger integration between workers of Hana Bank and the Korea Exchange Bank.

The bank's name remained KEB Hana Bank for four years and five months from September 2015 but changed to Hana Bank in January 2020.

Hana Financial Group's net profit stood at over 2.63 trillion ($2.3 billion) in 2020, up 10.3 percent, or 245.7 billion won, year-on-year.