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Finance

Governance rules added to performance scorecard as fate of South Korea’s top five bank chiefs hangs in balance

The terms of South Korea’s five major bank chiefs end at the same time on Dec. 31, turning leadership succession into a key second-half issue for the financial sector. The industry is leaning toward reappointments to maintain management continuity, but performance differences and governance factors could shape outcomes. Regulators are also discussing governance reforms, including measures to boost board independence and transparency in CEO selection, which could affect year-end appointments.

Finance

NH Investment & Securities launches dual CEO system with Shin Jae-wook and Bae Kwang-soo

NH Investment & Securities launched a dual CEO system with Shin Jae-wook and Bae Kwang-soo, aiming to strengthen expertise and accountable management by business division as it pursues new growth including its IMA business. The company said it appointed the two at an extraordinary shareholders meeting on June 30, shifting from a single-CEO structure. The co-CEOs pledged faster decision-making with shared responsibility and set out priorities including synergy, capital efficiency, AI transition, stronger internal controls and shareholder value.

Finance

Governance reform, digital assets legislation in focus as financial agenda may accelerate after election

South Korea\'s financial sector is turning its attention to regulators and parliament after the June 3 local elections, with a range of delayed policy issues expected to return to the agenda in the second half. These include governance reforms at financial holding firms, possible restrictions on jeonse loans for non-resident single-home owners, a no-fault compensation scheme for voice phishing victims, the Digital Assets Basic Act and revisions to the Microfinance Act.