The Financial Supervisory Service is said to plan to begin an inspection in January to review whether there are any issues with the process to appoint the next chair of BNK Financial Group. The move is seen as a response to President Lee Jae-myung's remark at a work briefing on the 19th that a "corrupt inner circle" continues to wield control in relation to the governance of financial institutions.
Earlier, BNK Financial Group convened its executive candidate recommendation committee and board of directors on the 8th and selected current BNK Financial Group Chair Bin Dae-in as the sole final candidate for chair and CEO. If the appointment plan passes the shareholders meeting in March, Bin's term will be extended to March 2029.
The president said, "We have refrained from direct involvement due to concerns about state control over finance, but leaving it alone has created a 'corrupt inner circle' in which a small number rotate and exercise control as they please." Financial Supervisory Service (FSS) Governor Lee Chan-jin said, "We are preparing to begin an inspection of the financial holding companies being discussed," adding, "We plan to provide a separate, detailed report in January."
In the financial sector, there is keen attention on whether this FSS inspection will affect not only whether Bin is reappointed but also the selection of other financial holding company chairs. Earlier, Shinhan Financial Group recommended current Chair Jin Ok-dong as the sole candidate for the next chair. Woori Financial Group Chair Yim Jong-ryong is also on the shortlist for the next chair.