As the race to appoint the next Suhyup Bank president kicks off, incumbent President Shin Hak-gi and Lee Hyeong-ju, head of the Financial Intelligence Unit (FIU), are being discussed as strong contenders.
According to the Suhyup Bank president candidate recommendation committee (the committee) on the 9th, the committee finished screening application documents that afternoon and finalized the interviewees. Applicants to the open recruitment are internal candidates President Shin and former vice presidents Jeong Cheol-gyun and Park Yang-su, and external candidates Director Lee, Lee Hyeong-seung, outside director at BNK Securities, and Kang Cheol-seung, former professor at Chung-ang University, for a total of six people, all of whom were included as interviewees. Suhyup Bank also conducted final interviews with all applicants last year.
While the National Federation of Fisheries Cooperatives is leaning toward Shin's second term, attention is focusing on the government-side votes with the emergence of Director Lee Hyeong-ju. In the financial sector, some said it is unusual for a sitting senior financial regulator to apply for the Suhyup Bank presidency. Director Lee is a former senior official at the Financial Services Commission, having served as a standing commissioner and now heading the Financial Intelligence Unit.
The Suhyup Bank committee consists of three members recommended by the Ministry of Economy and Finance, the Financial Services Commission (FSC), and the Ministry of Oceans and Fisheries, and two from the National Federation. Appointment of the president requires the consent of at least four of the five members. The five are outside director Kim Byung-gyu (recommended by the Ministry of Economy and Finance), outside director Park Kyung-cheol (recommended by the Ministry of Oceans and Fisheries), outside director Lim Hyeong-jun (recommended by the Financial Services Commission), Song Gwang-bok, head of the Buan Suhyup (recommended by the National Federation of Fisheries Cooperatives), and Jeong Seung-man, head of the Gyeonggi Suhyup (recommended by the National Federation of Fisheries Cooperatives). With support from only one side, a candidate cannot be finalized.
Suhyup Bank plans to conduct interviews on the 21st and announce the final candidate the following day. The final candidate selection and disclosure are scheduled for the 22nd. After board and shareholders' meeting approvals next month, the next president will be confirmed. President Shin's term runs until Nov. 17.