NH Investment & Securities announced on the 31st that it has nominated Song Kyu-jong, former head of the National Intelligence Service's inspection division, as a candidate for the now vacant outside director position while releasing its first-half performance.
NH Investment & Securities recorded a net profit of 465.1 billion won in the first half of this year, a figure that reflects a 10% increase compared to the previous year. Operating profit amounted to 611 billion won, which is a 12% increase for the same period.
The transaction commission revenue in the first half was 255 billion won, showing an improvement from the previous year as funds continued to flow into the domestic stock market. Revenue from financial product sales was 55.4 billion won, and the institutional sector revenue from the management division reached 511.6 billion won, boosted by the rebound in the stock market.
The investment banking (IB) institutional sector recorded a profit of 334.4 billion won. Contributions came significantly from the underwriting of equity financing (ECM) involving Hanwha Aerospace and Samsung SDI, as well as the issuance of corporate bonds from Hotel Shilla and Meriz Financial Group in the debt capital market (DCM) sector.
On the same day, NH Investment & Securities held a board meeting and nominated one candidate for outside director. Earlier, on June 7th, President Lee Jae-myung appointed lawyer Oh Kwang-soo as Chief of Staff, and Oh returned the outside director position at NH Investment & Securities that he had been assigned in March of this year. However, Oh voluntarily resigned just five days after his appointment amid past property-related allegations.
The newly recommended candidate for outside director is Song Kyu-jong, born in 1969, who formerly served as the director of inspection at the National Intelligence Service. He has held positions as the Director in the Ministry of Justice and as the Director of Planning at the Supreme Public Prosecutors' Office. Since 2022, he has been working as a partner lawyer at the law firm Daeryuk Aju.
NH Investment & Securities plans to hold an extraordinary general meeting of shareholders on the 20th of next month to vote on the appointment of outside directors.