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Finance

South Korea\'s top four financial groups complete outside director reshuffle; academic bias persists

South Korea\'s financial sector has completed a reshuffle of outside directors during the annual shareholders\' meeting season. The four major financial holding groups and banks formed boards centred on expertise in law, financial consumer protection and artificial intelligence, amid regulatory calls to improve governance and strengthen internal controls. Some groups maintained or increased female outside directors, while others reduced them, widening gaps. The long-criticised bias toward academia also remains, limiting substantive change.

Games & Commerce

Musinsa appoints outside director Park Chang-geun

Musinsa said on Tuesday it appointed Park Chang-geun (박창근) as a new outside director at its 14th annual general meeting of shareholders held on March 31. The company said the move was intended to advance corporate governance and strengthen fashion expertise. Musinsa said it expects Park to contribute broadly to its push to become a global platform. With Park’s appointment, Musinsa has four outside directors on its 10-member board.

Telecommunications & Media

KT launches Park Yun-young leadership, pledges slimmer organization and AI B2B push

KT has named longtime insider Park Yun-young as CEO, approving his appointment at a shareholder meeting. The company is moving quickly on executive reshuffles and organisational streamlining, including a broader regional structure and simplified reporting lines. KT also plans to bolster AI-based B2B business through a new AX division and integrate its media unit into the customer division. It is also focusing on recovery from last year’s unauthorised micropayment incident.