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Finance

Hana Financial begins CEO selection for key affiliates, to shortlist by late October

Hana Financial Group has begun CEO succession procedures for six major affiliates including Hana Bank. It plans to narrow each company’s shortlist to no more than three candidates by late October, then pick one final candidate for each in early December. The group’s executive candidate recommendation committee, chaired by outside director Won Sook-yeon, is made up of 75 percent outside directors. The group will expand the role of the bank-level committee in selecting the next Hana Bank chief.

Games & Commerce

KakaoAI inaugural board takes shape, with former minister and ex-tax chief joining

Kakao plans to staff the inaugural board of KakaoAI, which it will create through a corporate spin-off, with experts in technology, policy and finance. A company filing shows the board is set to have seven members, including two inside directors and four outside directors. They include former science minister Lim Hye-sook (임혜숙) and former National Tax Service chief Kim Dae-ji (김대지). Kakao plans to complete the split on Jan. 1.

Games & Commerce

Naver to invest additional 130 billion won in resale platform Kream

Naver will invest 130 billion won in a paid-in capital increase by affiliate Kream, it said in a regulatory filing. Naver approved the investment at a board meeting on Aug. 4 and plans to acquire 36,861 common shares, with the timing set for the second half of this year. The company said the purpose is to secure funds to expand Kream’s business scale. The total amount invested in Kream will be 179.999 billion won including this investment.