|
According to the financial industry on the 12th, Eximbank President Moon Bang-gyu held a meeting of the Director Candidate Recommendation Committee on the 10th and proposed multiple outside director candidates to the Ministry of Strategy and Finance. It was not disclosed how many people were ultimately proposed by President Bang.
However, it is reported that at least one member of the union is included this time as there has been an agreement between labor and management that at least two persons should be established, one recommender from the management and one from the union. The Ministry of Strategy and Finance is expected to select an outside director from among the candidates for which the proposal has been submitted and make the final appointment before the Chuseok holiday after verifying the fact that the relevant laws have been violated.
The union-nominated board system refers to a system in which workers-recommended experts participate in the board of directors. The union argues that the introduction of the union-recommended board system is necessary to enhance the checks and monitoring functions of management managers and to secure the independence of the board of directors.
On the other hand, the management opposes the union’s intervention, arguing that the politicized union will only strengthen the vested rights as an act of infringing on the management and management rights, which are inherent rights of the management.
Previously, the union recommended one outside director in the process of recruiting two outside directors in January last year, but it failed. At that time, 3 people recommended by the management and 1 person recommended by the union were proposed, but the Ministry of Strategy and Finance selected only 2 people recommended by the management.
In the case of IBK Industrial Bank of Korea and Korea Asset Management Corporation, the union recommended outside director candidates, but it did not lead to actual appointment.
.
