Hana Financial Group amended its internal governance regulations to ensure that Chairman Ham Young-joo's term is guaranteed for more than three years if he is re-elected.
According to financial sources on the 11th, Hana Financial disclosed the amendments to its internal governance regulations the previous day. While amending the internal regulations, Hana Financial added the provision that 'The age of directors' tenure is limited to 70 years, and if a director reaches the age of 70 during their term, the final term will be until the first regular shareholders' meeting held after the term.' The provision, which was initially stated as 'after the relevant date,' was changed to 'after the relevant term.'
With this amendment, if Chairman Ham successfully secures re-election, his term of three years is guaranteed. The term for the chairman of Hana Financial is three years, and Chairman Ham's term will expire in March next year. According to the previous regulations, Ham, who is currently 68 years old, would only be able to serve two years until the first shareholders' meeting held in March 2027, after reaching 70. However, with this amendment, if re-election is decided, he will be able to complete his term until March 2028.
A Hana Financial official noted, 'We referred to the regulations regarding directors' ages from other financial groups and considered the direction of the directors' business and management stability.'