JB Financial Group appointed former Jeonbuk Bank President Baek Jong-il as a new vice chairman.
Baek, the vice chairman, took office in Jan. 2023 and served as Jeonbuk Bank president for the past three years. Building a career in finance and business strategy, Baek was assessed to have a rich understanding of both the traditional banking industry and recent issues.
Born in 1962, Vice Chairman Baek graduated with a bachelor's degree in business administration from Korea University and passed the certified public accountant (CPA) exam in 1989. Baek then served as Director General of the research department at J.P. Morgan Securities, Head of Team for the financial sector at Hyundai Securities Research Center, and managing director at Pegasus Investment, before moving to Jeonbuk Bank as executive vice president, serving as CEO of JB Asset Management and president of PPCBank (Cambodia), and then moving to Jeonbuk Bank.
Along with the vice chairman appointment, JB Financial also conducted promotions for executive vice president and senior managing director. Park Jong-chun, the holding company's AX Future Growth Division head (senior managing director), was promoted to executive vice president, and Choi Jin-seok, the external cooperation division head, was promoted to senior managing director.
Park, the executive vice president, was born in 1969 and holds a bachelor's degree in business administration from Korea University, a master's degree in business administration from the National University of Malaysia "University of Malaya," and a doctorate in Middle Eastern and North African studies from Myongji University. Starting at Shinhan Bank in 2003, Park moved to Hanwha Life in 2012, then served as managing director of the DT Division at JB Financial Group in 2019 and as a digital-related executive vice president at Jeonbuk Bank and Kwangju Bank, and since 2023 worked as senior managing director of the Future Growth Division, the predecessor of the AX Future Growth Division.