Shinhan Bank\'s board said on Thursday it recommended Yoon Joon and Chae Eun-mi as new candidates for outside directors after holding an executive candidate recommendation committee meeting. The bank described Yoon as a legal expert and former head of the Seoul High Court, expected to contribute to internal controls and consumer protection. It said Chae, a PhD in physics, is an expert in quantum mechanics and is expected to help strengthen board expertise in digital and ICT strategy and new business analysis.

South Korea\'s government and ruling party are moving to reform what they call Nonghyup\'s overly powerful governance structure, including pursuing revisions to the Nonghyup Act to allow duty suspension if a chairman is found guilty at a first trial on charges such as embezzlement or breach of trust. The steps come as pressure grows for Nonghyup chairman Kang Ho-dong to resign amid allegations tied to a special audit. Farmer groups and politicians are demanding his resignation.