Legal risk cleared for Ham Young-joo to become Hana Financial chairman

Hana Financial Group's chairman nominee Ham Young-joo / Courtesy of Hana Financial Group

By Lee Min-hyung

Hana Financial Group's chairman-nominee Ham Young-joo has overcome obstacles on his way to becoming the group's next leader as a local court acquitted him regarding the bank's recruitment processes.

On Friday, the Seoul Western District Court found Ham not guilty of charges that he unfairly influenced Hana Bank's recruitment processes. The ruling enabled him get one step closer to becoming the next leader of Hana by replacing incumbent Chairman Kim Jung-tai, creating a clear path for him to possibly be promoted to the top post of the nation's third largest financial holding firm.

Previously, Ham was indicted on charges of allegedly manipulating scores in the recruitment examination of Hana Bank by allegedly engaging in the recruitment process in 2015 and 2016.

He was also charged with violating the gender equality law by setting the proportion of males and females at a ratio of 4 to 1 when hiring new employees in 2013 and 2016.

However, Ham has strongly rejected the charges. The lender argued that Hana Bank, as a private entity, can take various factors into account when hiring new employees. There is no rule that says the bank has to hire only those with high examination scores. The bank also refuted the gender-related charge, stressing that the different gender ratio in its hiring was a reflection of the internal manpower supply and demand situation. Ham has never taken part in any corrupt acts during the recruitment process, the lender said.

Meanwhile, Ham is set to take office on March 25, after seeking approval during its regular shareholders' meeting. The incumbent leader will also retire after ending his decade-long career at the top post of the banking group.

Last month, Ham, 66, was recommended as the sole candidate to be Hana's next chairman. He will lead the group for three years after possibly winning approval from shareholders later this month. He currently serves as vice chairman of the group and is in charge of its environment, social and corporate governance-related businesses.