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Finance

Who will be KB Financial\'s next chairman? Yang Jong-hee\'s re-election draws attention amid governance uncertainty

KB Financial Group has narrowed its shortlist for next chairman to six candidates, including incumbent Yang Jong-hee (양종희), as it begins the selection process amid delays in regulators’ governance reform plan for financial holding firms. The shortlist includes four internal and two external candidates, with one external candidate unnamed at their request. The committee plans interviews and further narrowing through September, with the final pick expected to be appointed at an extraordinary shareholders’ meeting in November.

Finance

Meritz urges MBK to play responsible role after Homeplus rehabilitation terminated

Meritz Financial Group said it regretted a court decision to terminate Homeplus\' rehabilitation procedure and urged majority shareholder MBK Partners to play a responsible role. Meritz said it had done as much as possible as a creditor within legal limits, including cooperation on a stay on collateral execution and a 100 billion won DIP financing escrow. It also said Chairman Kim Byung-ju has not guaranteed the DIP funding.