KB Financial Group held a committee meeting on Oct. 20 to recommend candidate for the CEO of its affiliate on Oct. 20 and selected KB Kookmin Bank CEO Huh In as its candidate for the bank’s next president.
After a final review and recommendation, including in-depth interviews with the bank's presidential candidate recommendation committee, the final decision will be made at the bank's shareholders' meeting in November. His term of office is until the end of 2021.
The committee earlier prepared a pool of internal and external candidates to meet the qualifications of bank president for stable management succession over the past year. On Sept. 28, the bank collected opinions on the criteria and procedures for selecting candidates for the bank's president.
It highly regarded Huh's management performance so far and selected him as its candidate for the next president. KB Kookmin Bank needs proven leadership in order to cope with changes in the financial environment in the post-COVID-19 era, the committee said.
"We selected Huh as the next candidate considering the fact that the leading bank is gaining its position despite the difficult business environment at home and abroad, the management situation necessary to change due to changes in the financial ecosystem centered on the basis of the big-tech platform, and the need to maximize synergy profits through cooperation in core competencies of affiliates," an official of the committee said
After graduating Seoul National University's law school, Huh joined the Long-term Credit Bank in 1988 and has served as executive director of Kookmin Bank's credit screening division, executive director of the management planning group and vice president of the sales group. After taking the helm of Kookmin Bank in November 2017, he won a second term in 2019.